Company: FMST
Filing Date: 2025-06-20
Form Type: 20-F
Source: 0001171843-25-004004
Chunk: 237

Company: Foremost Clean Energy Ltd.
Filing Date: 2025-06-20
Form: 20-F
Item: Item 19
Chunk 237
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 related to exploration and evaluation assets; and  

  included in short-term loans payable is $ 159,778 related to settlement of accounts payable.  

  15.      COMMITMENTS  
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Flow-through expenditures

The Company has issued flow-through shares and any resulting flow-through share premium was recorded as a flow-through premium liability. The liability is subsequently reduced when the required exploration expenditures are made, and accordingly, a recovery of flow-through premium liability is then recorded in profit or loss.

During the year endedMarch 31, 2024, the Company raised $1,109,268through the issuance of flow-through private placement and is committed to spend this amount on qualifying Canadian exploration expenditures by December 31, 2025. As ofMarch 31, 2025, the Company has fulfilled $1,109,268of the required flow-through spending obligation.

During the year endedMarch 31, 2025, the Company raised $7,536,379through the issuance of flow-through and charitable flow-through private placements and is committed to spend this amount on qualifying Canadian exploration expenditures by December 31, 2025. As ofMarch 31, 2025, the Company has fulfilled $345,079of the required flow-through spending obligation and as such the commitment has been reduced to $7,191,300. See Note9.

The flow-through premium liability is comprised of:

                                                  March 31,                     March 31,                   March 31,                 
                                                                                                                                      
                                                  2025                          2024                        2023                      
  Balance, opening                                $                 11,666      $                    -      $              -          
 ──────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────
  Addition                                                       1,900,762                      20,143                     977,534    
  Recovery of flow-through premium liability                     ( 120,902                     ( 8,477                     ( 977,534  
  Balance, closing                                $              1,791,526      $               11,666      $              -          

During the year endedMarch 31, 2025, the Company has recognized a recovery of flow-through premium liability of $120,092(2024-$8,477; 2023- $977,534) in profit or loss, respectively.

  16.      LOANS PAYABLE  
 ──────────────────────────

During the year endedMarch 31,