Company: FMST
Filing Date: 2025-06-20
Form Type: 20-F
Source: 0001171843-25-004004
Chunk: 220

Company: Foremost Clean Energy Ltd.
Filing Date: 2025-06-20
Form: 20-F
Item: Item 19
Chunk 220
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 amended several times, as detailed below:

Initial Terms(May 10, 2022): Interest rate of8.35% per annum, payable monthly, with a maturity date of May 10, 2023.

Amendment1(May 1, 2023): The interest rate was increased to11.35% per annum. The maturity date was extended to May 10, 2024.

Amendment2(April 26, 2024): The maturity date was extended to May 10, 2025.

Amendment3(October 4, 2024): The Loan was revised to exclude the newly optioned Denison properties as collateral, and the interest rate was reduced to9% per annum, effective through to October 4, 2025.

The Company incurred $96,768(2024-$126,606; 2023- $88,000) in interest and paid an aggregate of $600,000(2024-$Nil; 2023-$Nil) in principal and $113,920(2024-$126,606; 2023- $88,000) in interest on the loan during the year ended March 31, 2025.

During the year endedMarch 31, 2023, the Company wrote off a loan of $2,500.

  CAPITAL STOCK AND RESERVES  
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Authorized capital stock

Unlimited number of common shares without par value.

Issued capital stock

All issued shares are fully paid.

During the year ended March 31, 2025,

  closed a non-brokered private placement issuing 247,471 flow-through units consisting of one flow-through common share and one non-flow-through common share purchase warrant at $ 5.88 per unit ...  
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  issued 28,818 common shares at a value of $ 100,000 as part of the annual payment due under the Peg North Property option agreement (see Note 6).  

  issued 12,106 common shares at a value of $ 50,000 as a part of the acquisition payments for the Jean Lake option agreement (see Note 6).  

  issued 1,795,492 common shares at a value of $ 6,716,449 pursuant to the acquisition of Athabasca Property (see Note 6).