Company: FMST
Filing Date: 2025-06-20
Form Type: 20-F
Source: 0001171843-25-004004
Chunk: 223

Company: Foremost Clean Energy Ltd.
Filing Date: 2025-06-20
Form: 20-F
Item: Item 19
Chunk 223
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-through common shares at $ 17.00 per common shares for gross proceeds of $ 1,661,807. Cash finder’s fees of $ 99,624 were paid on the fina...  

  issued 6,705 common shares at a value of $ 50,000 as part of the acquisition payments for the Jean Lake Option Agreement (see Note 6).  

  issued 20,000 common shares valued at $ 355,000 pursuant to a PSU redemption to a related party.  

Stock Incentive Plan:

The Board of Directors adopted the Company’s2023Stock Incentive Plan under which allows the Company to grant equity-based incentive awards (each, an “ Award”) in the form of stock options (“ Options”), restricted stock units (“ RSUs”), performance stock units (“ PSUs”) and deferred stock units (“ DSUs”) to executive, officers, directors, employees, and consultants. The Stock Incentive Plan was ratified by shareholders at the Annual General and Special Meeting (“ AGSM”) onDecember 20, 2024, and is a fixed number share plan providing an aggregate maximum number of common shares that maybe issued upon the exercise or settlement of Awards granted under the plan, notto exceed1,500,000common shares, subject to the adjustment provisions provided within the plan.

Stock options:

The2023Stock Incentive Plan supersedes and replaces the Company’s Option Plan, dated as originally adopted by the Board of Directors onNovember 8, 2021, and ratified by the stockholders of the Company on December 10, 2021.

During the year ended March 31, 2025,

  had 156,589 stock options that were cancelled and/or forfeited, resulting in an allocation of share-based reserves of $ 619,093 to deficit and reversal of share-based payments of $ 134,962.  

  granted stock options for 36,000 shares to a consultant of the Company. The options are exercisable at $ 3.91 (USD $ 2.84) per share until July 23, 2029 with an estimated fair value of $ 112,20...  

  granted stock options for 83,194 shares to director and officers of the Company. The options are exercisable at $ 2.76 per share until April 1, 2029 with an estimated fair value of $ 167,600.  

  51,323 stock options vested immediately.  

  31,871 stock options