Company: FMST
Filing Date: 2025-02-28
Form Type: 424B3
Source: 0001171843-25-001157
Chunk: 20

Company: Foremost Clean Energy Ltd.
Filing Date: 2025-02-28
Form: 424B3
Chunk 20
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 exercisable by the holder to purchase an additional common share at a price of $ until November 14, 2026.A value of $ was attributed to the flow-through premium liability in connection with the financing. The Company is committed to incur a total of $ of qualifying Canadian Exploration Expenses (“CEE”) on or before December 31, 2025.As at December 31, 2024,the Company has incurred $Nil in qualifying CEE.

The Company also issued charitable flow-through units consisting of one charitable flow-through common share and one non-flow-through common share purchase warrant for $ per unit for gross proceeds of $, of which $ was allocated to the warrant component of the unit and recorded in share-based payment reserves. Each warrant is exercisable by the holder to purchase an additional common share at a price of $ until November 14, 2026.A value of $ was attributed to the charitable flow-through premium liability in connection with the financing. The Company is committed to incur a total of $ of qualifying Canadian Exploration Expenses (“CEE”) on or before December 31, 2025.As at December 31, 2024,the Company has incurred $Nil in qualifying CEE.

In connection with these financings, the Company paid a cash finder’s fees of $ and granted non-transferable finder’s warrants (valued at $). Each finder’s warrant is exercisable for one common share of the Company at a price of $ per common share until November 14, 2026.The Company also paid other share issuance costs of $.

Stock Incentive Plan:

The Board of Directors adopted the Company’s 2023 Stock Incentive Plan under which allows the Company to grant equity-based incentive awards (each, an “Award”) in the form of stock options (“Options”), restricted stock units (“RSUs”), preferred stock units (“PSUs”) and deferred stock units (“DSUs”) to executive, officers, directors, employees, and consultants. The Stock Incentive Plan was ratified by shareholders at the Annual General and Special Meeting (“AGSM”) on December 20, 2024,and is a fixed number share plan providing an aggregate maximum number of common shares that maybe issued upon the exercise or settlement of Awards granted under the plan, not to exceed common shares, subject to the adjustment provisions provided within the plan.

Stock options:

The Company’s Stock Option plan allows for the Board to grant stock options to Executives Officers, Directors, employees and consultants up to % of the issued and outstanding common stock of the Company.

During