Company: FMST
Filing Date: 2025-06-20
Form Type: 20-F
Source: 0001171843-25-004004
Chunk: 15

Company: Foremost Clean Energy Ltd.
Filing Date: 2025-06-20
Form: 20-F
Item: Item 3
Chunk 15
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 results of operations. Our ability to grow will depend on several factors, including:

  our ability to obtain leases or options on properties;  

  our ability to identify and acquire new exploratory prospects;  

  our ability to develop existing prospects;  

  our ability to continue to retain and attract skilled personnel;  

  our ability to maintain or enter into new relationships with project partners and independent contractors;  

  the results of our exploration programs;  

  the market price for uranium and lithium;  

  our access to capital; and  

  our ability to enter into agreements for the sale of any production, if applicable.  

We may not be successful in upgrading our technical, operational, and administrative resources or increasing our internal resources sufficiently to provide certain of the services currently provided by third parties, and we may not be able to maintain or enter into new relationships with project partners and independent contractors on financially attractive terms, if at all. Our inability to achieve or manage growth may materially and adversely affect our business, results of operations and financial condition.

Risks Related to Ownership of Our Common Shares

“ The market price of our common shares may fluctuate, and you could lose all or part of your investment.

The market price for our common shares has been and is likely to be volatile. In addition, the market price of our common shares may fluctuate significantly in response to several factors, most of which we cannot control, including:

  actual or anticipated variations in our operating results;  

  changes in market valuations of similar companies;  
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  actions or announcements by our competitors;  

  additions or departures of key personnel;  

  actions by shareholders;  

  speculation in the media, online forums, or investments community and  

  our ability to maintain the public listing of our common shares.  

14

The price of our common shares could be subject to rapid and substantial volatility. Such volatility, including any stock run-ups, may be unrelated to our actual or expected operating performance and financial condition or prospects, making it difficult for prospective investors to assess the rapidly changing value of our common shares.

As a relatively small-capitalization company with a relatively small public float, we may experience greater share price volatility, extreme price run-ups, lower trading volume, and less liquidity than large-capitalization companies. In particular, our common shares may be subject to rapid and substantial price volatility, low volumes of trades, and large spreads in bid and ask prices. Such volatility, including any stock run-ups, may