Welcome to our dedicated page for Foremost Clean Energy news (Ticker: FMST), a resource for investors and traders seeking the latest updates and insights on Foremost Clean Energy stock.
Foremost Clean Energy (FMST) provides comprehensive news coverage for its uranium and lithium exploration activities across North America. This dedicated resource aggregates official press releases and verified updates about project developments, strategic partnerships, and operational milestones.
Investors and industry observers will find timely information on grassroots exploration initiatives, drill-ready targets, and technical advancements in mineral discovery. The curated collection includes updates about Manitoba lithium prospects, Quebec uranium projects, and corporate developments shaping FMST's position in clean energy resources.
All content undergoes strict verification to ensure accuracy and relevance to stakeholders. Regular updates cover essential aspects including geochemical survey results, land acquisition announcements, and exploration methodology enhancements. Bookmark this page for direct access to primary source information about FMST's evolving portfolio and market activities.
Foremost Clean Energy (NASDAQ: FMST) announced shareholders have approved the spin-out of its Winston Gold and Silver Property through Rio Grande Resources. The arrangement, approved by 99.86% of shareholders, will distribute two Rio Grande shares for every one Foremost share held. The completion is subject to Supreme Court of British Columbia and CSE approvals, expected around January 10, 2025.
Shareholders also approved setting the board size at six directors and elected new members including Amanda Willett, VP Legal at Denison Mines. Following the arrangement, shareholders will hold shares in both Foremost, focusing on uranium and lithium exploration, and Rio Grande, dedicated to the Winston Property development. Foremost will continue trading on CSE (FAT) and NASDAQ (FMST), while Rio Grande will seek CSE listing.
Foremost Clean Energy (NASDAQ: FMST) has issued a shareholder letter highlighting key developments in 2024, including an option agreement with Denison Mines for 10 uranium properties in the Athabasca Basin. The company secured C$13.5 million through equity financing, with insiders investing C$2.4 million in share purchases. The company plans to commit $6.5 million for exploration in 2025.
Key developments include the planned spin-out of the Winston Gold/Silver Project into Rio Grande Resources, where shareholders will receive two RGR shares for each Foremost share. The company has strengthened its management team with David Cates joining the board and plans to enhance market awareness through a new marketing agreement with Capital Property
Foremost Clean Energy (NASDAQ: FMST) has distributed management information circulars for its upcoming Annual General and Special Meeting on December 20, 2024. Due to ongoing postal strikes, the company is using courier services and encouraging online voting. The meeting will consider a special resolution for a strategic spin-out of the Winston Group of Gold and Silver Properties to Rio Grande Resources, a wholly-owned subsidiary. Under the arrangement, shareholders will receive one new Foremost share and two Rio Grande shares for each current Foremost share. Foremost will retain approximately 19.95% interest in Rio Grande. The completion depends on Rio Grande shares being listed on the CSE.
Foremost Clean Energy (NASDAQ: FMST) has issued corrections regarding its Red Cloud Financial Services engagement, which commenced on November 14, 2024, not October 14 as previously stated. The company detailed its upcoming spin-out of the Winston Gold and Silver Properties to Rio Grande Through a plan of arrangement, shareholders will receive one new Foremost share and two Rio Grande shares for each Foremost share held. The arrangement is expected to complete in January 2025, subject to required approvals. Additionally, the company has filed an updated Technical Report for the Winston Properties in New Mexico.
Foremost Clean Energy (NASDAQ: FMST) has entered into a strategic agreement with Red Cloud Financial Services for promotional and marketing services. Red Cloud will provide services including non-deal roadshows, marketing documentation, investor relations, and media support for a monthly fee of $10,000, starting October 14, 2024, for a 12-month term with automatic monthly renewal thereafter. Additionally, Foremost has granted 175,009 stock options at $2.76 per share and 222,491 Restricted Share Units to directors, officers, and consultants, subject to vesting provisions and a four-month statutory hold period.
Foremost Clean Energy (NASDAQ: FMST) announces its rescheduled 2024 Annual General and Special Meeting for December 20, 2024, where shareholders will vote on a strategic spin-out of the Winston Group of Gold and Silver Properties to Rio Grande Resources. Under the arrangement, shareholders will receive one new Foremost share and two Rio Grande shares for each existing Foremost share, with Foremost retaining a 19.95% interest in Rio Grande. The Properties span over 3,000 acres in New Mexico, comprising 149 total mining claims. The company has appointed Jason Barnard, Raymond Strafehl, and Richard Silas to Rio Grande's board.
Denison Mines announces participation in Foremost Clean Energy's private placement, investing $1,822,800 for 607,600 units at $3.00 per unit. Following the $10.5M offering completion, Denison now owns 1,977,410 Foremost shares (19.13%) and 607,600 warrants (13.09%). This investment supports Foremost's exploration of Saskatchewan uranium properties under a previously established option agreement, where Foremost can earn up to 70% interest in 10 Denison properties.
The investment follows an earlier agreement where Denison received 1,369,810 Foremost shares as partial consideration for Foremost's acquisition of an initial 20% interest in Denison's uranium exploration properties.Foremost Clean Energy (NASDAQ: FMST) has announced positive preliminary results from a recently completed 889-metre, four-hole diamond drill program at the Hatchet Lake Uranium Property in Saskatchewan's Athabasca Basin. Key highlights include:
1. Elevated radioactivity of up to 360 counts per second in drill hole RL-24-29.
2. A shear zone with reactivated graphitic-pyritic faults intersected in drill-hole TF-24-12, presenting a compelling future target.
3. Significant structural disruption and alteration indicative of hydrothermal fluid flow observed in multiple drill holes.
The drill program, managed by Denison Mines Corp., covered the Richardson claim block and the Tuning Fork grid. Foremost's CEO, Jason Barnard, expressed enthusiasm about the results and the company's collaboration with Denison, now Foremost's largest shareholder.
Foremost Clean Energy (NASDAQ: FMST) (CSE: FAT) has completed Phase One of its transaction with Denison Mines Corp., acquiring a 20% interest in 10 uranium exploration properties covering over 330,000 acres in the Athabasca Basin. Denison has become Foremost's largest shareholder at 19.95%, receiving 1,369,810 common shares. The transaction includes:
1. Appointment of David Cates, Denison's President and CEO, to Foremost's board of directors
2. Addition of Andy Yackulic, Denison's VP of Exploration, to Foremost's advisory board
3. Entering into an investor rights agreement with Denison
4. Foremost becoming the operator of the Exploration Properties
The Option Agreement allows Foremost to acquire up to 70% of Denison's interest in the properties through three phases. The Exploration Properties consist of 45 claims in the uranium-rich Athabasca Basin region.
Denison Mines Corp. (TSX: DML) (NYSE American: DNN) has filed an early warning report regarding its holdings in Foremost Clean Energy (NASDAQ: FMST) (CSE: FAT). On October 4, 2024, Denison acquired 1,369,810 common shares of Foremost, representing approximately 19.95% of Foremost's outstanding shares. This acquisition was part of an option agreement dated September 23, 2024, allowing Foremost to acquire up to 70% of Denison's interest in 10 uranium exploration properties over three phases.
The agreement includes cash or stock payments to Denison and Foremost-funded exploration expenditures. As part of the deal, David Cates, Denison's President and CEO, was appointed to Foremost's board, and Andy Yackulic, Denison's VP of Exploration, became a Technical Advisor to Foremost. An investor rights agreement was also executed, giving Denison pre-emptive rights to maintain its ownership percentage in Foremost.
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