Company: FMST
Filing Date: 2025-07-08
Form Type: POS AM
Source: 0001171843-25-004344
Chunk: 38

Company: Foremost Clean Energy Ltd.
Filing Date: 2025-07-08
Form: POS AM
Chunk 38
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 ownership is determined in accordance with the terms of the Common Share Purchase
Warrants. However, any holder may increase or decrease such percentage to any other percentage not in excess of 9.99% upon at least 61
days' prior notice from the holder to us.

Exercise Price. The exercise price per whole
common share purchasable upon exercise of the Common Share Purchase Warrants is expected to be US$ per common share, representing 125%
of the public offering price per Common Share Unit. The exercise price is also subject to appropriate adjustment in the event of certain
stock dividends and distributions, stock splits, stock combinations, reclassifications or similar events affecting our common shares and
also upon any distributions of assets, including cash, stock or other property to our shareholders.

Cashless Exercise. If at the time of exercise
hereof there is no effective registration statement registering, or the prospectus contained therein is not available for the issuance
of the common shares to the holder upon exercise of the Common Share Purchase Warrants, in lieu of making the cash payment otherwise contemplated
to be made to us upon such exercise in payment of the aggregate exercise price, the holder may elect instead to receive upon such exercise
(either in whole or in part) the net number of common shares determined according to a formula set forth in the Common Share Purchase
Warrants.

Transferability. Subject to applicable laws,
the Common Share Purchase Warrants may be offered for sale, sold, transferred or assigned without our consent.

Fundamental Transactions. In the event of
a fundamental transaction, as described in the Common Share Purchase Warrants and generally including any reorganization, recapitalization
or reclassification of our common shares, the sale, transfer or other disposition of all or substantially all of our properties or assets,
our consolidation or merger with or into another person, the acquisition of more than 50% of our outstanding common shares, or any person
or group becoming the beneficial owner of 50% of the voting power represented by our outstanding common shares, the holders of the Common
Share Purchase Warrants will be entitled to receive upon exercise of the Common Share Purchase Warrants the kind and amount of securities,
cash or other property that the holders would have received had they exercised the Common Share Purchase Warrants immediately prior to
such fundamental transaction.

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Rights as a Stockholder. Except as otherwise
provided in the Common Share Purchase Warrants or by virtue of such holder's ownership of shares of our common