Company: FMST
Filing Date: 2025-06-20
Form Type: 20-F
Source: 0001171843-25-004004
Chunk: 92

Company: Foremost Clean Energy Ltd.
Filing Date: 2025-06-20
Form: 20-F
Item: Item 4
Chunk 92
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 nature of these industries while positioning us as a significant player in both uranium and lithium markets.

Our Customers

At the current stage of development of our mineral resource projects, we are not yet in a position to establish a formal customer base, as we do not have sample products available for qualification. However, through our focused efforts on resource development and ongoing drilling activities, we anticipate generating interest from potential partners and customers in both the uranium and lithium markets. Our strategic partnership with Denison Mines, a respected leader in the uranium sector, is expected to enhance our visibility and credibility among industry stakeholders. As we advance our exploration and demonstrate the viability of our projects, we aim to attract leading companies in the nuclear energy and battery manufacturing sectors, thereby positioning ourselves as a future supplier of choice for lithium and uranium products.

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Intellectual Property

We do not have any registered intellectual property rights.

Facilities

Our corporate address is 750 West Pender Street, Suite 250 Vancouver, British Columbia V7Y 1K3 Canada. Currently, we do not maintain any office or operational facilities. We believe that we will be able to obtain adequate facilities, principally through leasing, to accommodate our future expansion plans.

Employees

We currently have 3 employees with executive employment agreements.

Our remaining executive officers and advisers work for us as independent contractors under consulting agreements. These agreements require consultants to protect our confidential information during their engagement with us. In addition, these consulting agreements include typical non-compete clauses that prohibit the consultants from entering competitive employment relationships while they are working for us.

Insurance

We currently insure our directors and officers through our D& O insurance policy.

Legal Proceedings

From time to time, we may become involved in various lawsuits and legal proceedings which arise in the ordinary course of business. Litigation is subject to inherent uncertainties and an adverse result in these, or other matters may arise from time to time that may harm our business. We are currently not aware of any such legal proceedings or claims that we believe will have a material adverse effect on our business, financial condition, or operating results.

Government Regulation

Our business is subject to mining laws and regulations in various jurisdictions. Canadian mining law is divided between the federal and provincial governments. Ownership of lands and minerals belongs to the province in which they are located. Our mining activities are regulated by the Province of Manitoba’s Department of Agriculture and Resource Development and governed primarily by provisions of The Mines and Minerals Act (Manitoba) together with its accompanying regulations and guidelines. In Saskatchewan, the management of mineral resources and the