Company: FMST
Filing Date: 2025-06-20
Form Type: POS AM
Source: 0001171843-25-004006
Chunk: 36

Company: Foremost Clean Energy Ltd.
Filing Date: 2025-06-20
Form: POS AM
Chunk 36
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| Public offering price per Common Share Unit                                            |     | US$ | 5.00 |
| Net tangible book value per common share at March 31, 2025                             |     | US$ | 1.87 |
| Increase in net tangible book value per common share to the existing shareholders      |     | US$ | 0.37 |
| Pro forma net tangible book value per common share after this offering                 |     | US$ | 2.24 |
| Dilution in net tangible book value per common share to new investors in this offering |     | US$ | 2.76 |

The tables above exclude the following shares:

| • | 333,500 common shares issuable upon the exercise of outstanding options under our Stock Option Plan (2023) at a weighted average exercise 
 price of C$7.38 (approximately US$5.44) per share.                                                                                        |

| • | 1,141,592 common shares issuable upon the exercise of outstanding warrants at a weighted average exercise price of C$7.14 (approximately 
 US$5.26) per share;                                                                                                                      |

| • | 9,036 common shares issuable upon the exercise of outstanding agents warrants at a weighted average exercise price of C$7.61 (approximately 
 US$5.61) per share; and                                                                                                                     |

| • | up to 40,000 common shares issuable upon exercise of the representative’s warrants issued in connection with this offering. |

To the extent that outstanding options or warrants,
or the Common Stock Purchase Warrants offered in this offering, are exercised, you may experience further dilution. In addition, we may
choose to raise additional capital due to market conditions or strategic considerations even if we believe we have sufficient funds for
our current or future operating plans. To the extent that additional capital is raised through the sale of equity or convertible debt
securities, the issuance of these securities may result in further dilution to our shareholders.

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### DESCRIPTION
OF SHARE CAPITAL

General

The following is a description of the material terms
of our share capital as set forth in our articles of incorporation, as amended, and as further amended in connection with this offering,
and certain related sections of the BCBCA. For more detailed information, please see our articles of incorporation and amendments thereto,
which are filed as exhibits to the registration statement of which this prospectus forms a part.

As of June 12