Foremost Clean Energy Stock Price, News & Analysis

Foremost Lithium Resource & Technology (NASDAQ: FMST) (CSE: FAT) has announced a strategic spin-out of its Winston Group of Gold and Silver Properties into a new company, Rio Grande Resources The plan, approved by the Board of Directors, will be executed through a court-approved arrangement. Foremost shareholders will receive two Rio Grande shares for each Foremost share, maintaining their proportionate interest in Foremost. The company plans to retain a 19.95% stake in Rio Grande and aims to raise at least $1.5 million through financings.

A special shareholder meeting is scheduled for November 06, 2024, with a record date of September 09, 2024. The arrangement requires 66 2/3% shareholder approval, court approval, and regulatory clearances. Foremost believes this spin-out will maximize long-term value for shareholders by allowing independent valuation of the gold and silver properties during a strong precious metals market.

Foremost Lithium Resource & Technology (NASDAQ: FMST) (CSE: FAT), a North American hard-rock lithium exploration company, has been approved to list its shares on Upstream, a revolutionary securities trading app. Trading will commence on July 31, 2024, at 10:00 am ET under the ticker symbol FMST. Upstream aims to eliminate barriers for international investment into North America without competing with domestic exchanges like Nasdaq and CSE.

The uplisting is expected to enhance Foremost's global investment exposure and potential opportunities. Existing shareholders and listings on Nasdaq and CSE will not be affected. Upstream supports trading using USDC digital currency, credit, debit, PayPal, and USD, potentially unlocking liquidity and enhancing price discovery for Foremost.

Foremost Lithium announced its application to list on Upstream, a modern securities trading app. Upstream aims to eliminate barriers for international investments into North America, allowing trades using digital currency, credit, debit, PayPal, and USD. This move is expected to increase Foremost's global investment exposure and liquidity without affecting its current Nasdaq and CSE listings. Foremost's President & CEO, Jason Barnard, highlighted Upstream's potential to reach untapped international investors, enhancing price discovery and investment opportunities. Approval is pending, but an expedited listing process may be possible.

Foremost Lithium has provided an update on its Peg North Property in Manitoba, Canada. The property spans 16,697 acres and is the largest within the company's Lithium Lane properties. Foremost has completed the third installment of a payment to acquire a 100% interest in the Peg North Claims, involving a $100,000 cash payment and the issuance of 28,818 shares. The property features significant pegmatite outcrops and remains highly prospective for lithium. Future plans include extensive exploration hindered previously by forest fires. CEO Jason Barnard expressed optimism about market conditions and the property's potential value for shareholders.

Foremost Lithium announced plans to spin out its Winston Group of gold and silver properties into a new subsidiary, Rio Grande Resources (RGR). This move is intended to refocus Foremost on its lithium projects while creating a new company dedicated to gold and silver mining. Shareholders will receive shares in RGR proportional to their Foremost holdings. The spin-out will require various approvals and is expected to be executed through a plan of arrangement. RGR plans to list on the Canadian Securities Exchange and undertake financing to support its operations. The Winston Property, located in New Mexico, includes three historic mines with high-grade gold and silver samples. This strategic move aims to unlock value for shareholders by capitalizing on favorable market conditions for precious metals.

Foremost Lithium has completed its winter drilling program at the Zoro Lithium Project in Manitoba, Canada, achieving over 5,800 meters through 21 diamond drill holes. Drilling results indicate continuity of lithium mineralization along Dyke 1, extending the mineralized body by 150 meters to over 400 meters, with potential for further resource expansion. Initial assays from two drill holes confirmed significant lithium mineralization, with final assay results expected within 4-6 weeks. Dyke 1 remains open in all directions, indicating potential for continued resource growth and future drilling programs.