Company: FMST
Filing Date: 2025-06-20
Form Type: POS AM
Source: 0001171843-25-004006
Chunk: 10

Company: Foremost Clean Energy Ltd.
Filing Date: 2025-06-20
Form: POS AM
Chunk 10
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 Basin and in Manitoba and
Quebec. This focus on uranium and lithium aims to support the clean energy transition by providing critical materials for nuclear power
and battery technology. As the demand for carbon-free energy continues to accelerate, domestically mined uranium and lithium are poised
for dynamic growth, playing an important role in the clean energy mix of the future.

Our uranium projects, located in northern Athabasca
Basin in Saskatchewan, Canada includes properties that host high-grade mineralization alongside or within historical high-grade uranium
deposits, as well as greenfield, near virgin territories with major upside potential. These properties are at different stages of exploration,
from grassroots to those with significant historical exploration and drill-ready targets. Our Lithium Lane Properties are located in the
mining friendly Canadian province of Manitoba near access to the Hudson Bay Railway and the Port of Churchill. With access to renewable
energy produced in Manitoba, we aim to supply lithium processed exclusively with the benefit of power produced from fully sustainable,
local sources and are commitment to the environment, corporate social responsibility, and sustainability.

Our Status as an “Emerging Growth Company”

We are an “emerging growth company” as
defined in Section 3(a) of the United States Securities Exchange Act of 1934, as amended (the “Exchange Act”) by the
Jumpstart Our Business Startups Act of 2012 (the “JOBS Act”), and we may take advantage of certain exemptions from
various reporting requirements that are applicable to other public companies that are not emerging growth companies. We will continue
to qualify as an “emerging growth company” until the earliest to occur of: (a) the last day of the fiscal year during which
we had total annual gross revenues of US$1,235,000,000 (as such amount is indexed for inflation every 5 years by the SEC) or more; (b)
the last day of our fiscal year following the fifth anniversary of the date of the first sale of equity securities pursuant to an effective
registration statement under the United States Securities Act of 1933, as amended (the “Securities Act”); (c) the date
on which we have, during the previous 3-year period, issued more than US$1,000,000,000 in non-convertible debt; or (d) the date on which
we are deemed to be a “large accelerated filer”, as defined in Exchange Act Rule 12b-2. We expect to continue to be an