Company: FMST
Filing Date: 2025-07-28
Form Type: DRS
Source: 0001171843-25-004725
Chunk: 75

Company: Foremost Clean Energy Ltd.
Filing Date: 2025-07-28
Form: DRS
Chunk 75
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mitted by law deemed to be an “at the market offering,” as defined in Rule 415(a)(4) promulgated under the Securities Act
[including without limitation sales made directly on Nasdaq or any other existing trading market of our common shares, sales to or through
a market maker other than on an exchange or in negotiated transactions at market prices prevailing at the time of sale or at prices related
to such prevailing market prices]. We may instruct Canaccord not to sell our common shares if the sales cannot be effected at or above
the price designated by us from time to time. We or Canaccord may suspend the offering of our common shares upon notice and subject to
other conditions.

Canaccord will provide to us written confirmation
following the close of trading on Nasdaq each day on which our common shares are sold under the Equity Distribution Agreement. Each confirmation
will include the number of common shares sold on such day, the net proceeds to the Company, and the compensation payable by us to Canaccord
with respect to such sales.

We will pay Canaccord commissions for its services
in acting as sales agent in the sale of our common shares. Canaccord is entitled to compensation at a commission rate of up to 3.0% of
the gross sales price per share sold by Canaccord under the Equity Distribution Agreement. Because there is no minimum offering amount
required as a condition to this offering, the actual total public offering amount, commissions and proceeds to us, if any, are not determinable
at this time. We have also agreed to reimburse Canaccord for certain reasonable and documented expenses, including fees and disbursements
of its counsel, up to an amount of $125,000 incurred in connection with entering into the transactions contemplated by the Equity Distribution
Agreement, plus certain ongoing expenses. We estimate that the total expenses of the offering payable by us, excluding any commissions
and the reimbursement payable to Canaccord under the terms of the Equity Distribution Agreement, will be approximately $200,000. Settlement
for sales of our common stock will occur on the first business day following the date on which any sales are made, in return for payment
of the net proceeds to us. Sales of our common shares as contemplated in this prospectus supplement will be settled through the facilities
of The Depository Trust Company or by such other means as we and Canaccord may agree upon. There is no arrangement for funds to be received
in an escrow, trust or