Company: FMST
Filing Date: 2025-08-06
Form Type: F-3
Source: 0001171843-25-005054
Chunk: 75

Company: Foremost Clean Energy Ltd.
Filing Date: 2025-08-06
Form: F-3
Chunk 75
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 Form F-3 of which this prospectus supplement forms a part. If authorized by us in writing, Canaccord may also purchase our
common shares as principal.

Upon delivery of a placement notice to Canaccord
and subject to the terms and conditions of the Equity Distribution Agreement, Canaccord may offer and sell our common shares by any method
permitted 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