Foremost Clean Energy Ltd. SEC Filings

Foremost Clean Energy Ltd. reported the grant of 68,000 stock options to certain officers, employees and consultants under its Long-Term Incentive Plan. The options have an exercise price of $1.87 per share, a five-year term, and vest in three equal annual installments on April 1, 2027, April 1, 2028 and April 1, 2029. The company states that these equity incentives are intended to align the interests of management and staff with shareholders and to support its long-term strategy in uranium, lithium and gold exploration across its North American project portfolio.

Foremost Clean Energy Ltd. updates its F-1 registration to reflect a previously completed primary offering of 800,000 Common Share Units, each with one common share and one Common Share Purchase Warrant, at US$5.00 per Unit. Each warrant is exercisable at US$6.25 for five years, and certain investors could instead buy Pre-Funded Warrants exercisable at US$0.01 per share, subject to 4.99% or 9.99% beneficial ownership caps. The company reports net proceeds of about US$2.8 million, mainly used to advance lithium exploration at its Manitoba Lithium Lane properties, and provides updated financials showing total capitalization of CAD$37.54 million and 16,489,485 common shares outstanding as of June 30, 2026.

Foremost Clean Energy Ltd., a uranium and lithium explorer, reported a net loss of $1,034,634 for the three months ended June 30, 2026, compared with net income of $405,838 a year earlier. Basic and diluted earnings per share were $(0.06) versus $0.04 in 2025, reflecting higher management fees, investor relations and share-based compensation and the absence of prior-period spin-out gains and large securities revaluation gains.

Total assets were $37.54 million, dominated by exploration and evaluation assets of $32.69 million. Cash declined to $2.54 million from $6.34 million at March 31, 2026, as operating activities used $1.68 million of cash and exploration investing used $2.46 million, partly offset by $0.34 million of share financing. Working capital was $2.05 million. Liabilities included a $1.08 million flow-through premium liability and a $0.66 million derivative warrant liability.

The company continues to have no revenues and disclosed an accumulated deficit of $31.65 million, with explicit going-concern uncertainty and dependence on future equity or debt financings. Foremost advanced its Athabasca Basin uranium interests, capitalizing $2.51 million of exploration and acquisition costs in the quarter and later completing Phase 2 of its earn-in with Denison by issuing 848,610 shares to reach a 51% interest in most Athabasca Properties and 35.78% in Hatchet Lake.

Foremost Clean Energy Ltd. is advancing Phase 2 of its option agreement with Denison Mines, expecting to complete this earn-in about 15 months early by issuing up to 848,610 shares valued at $2 million. Foremost has already completed more than $8 million in qualifying exploration work. On Phase 2 completion, its interest in 10 Athabasca uranium projects will rise to 51%, with a 35.78% interest at Hatchet Lake. Denison’s holdings are expected to increase from 2,600,000 to 3,448,610 Foremost shares, representing about 19.9% of the company’s outstanding shares, plus 607,600 warrants.

Foremost Clean Energy Ltd. provides its annual overview as an exploration-stage uranium and lithium company focused on projects in Saskatchewan’s Athabasca Basin and Manitoba’s “Lithium Lane” properties. The company has no revenues and remains in the exploration stage with significant technical and permitting work ahead.

As of March 31, 2026, Foremost had 16,280,580 common shares outstanding, cash of $6,342,205 (US$4,549,971), and reported a net loss of $6,898,108 (US$4,948,783), following a prior-year loss of $3,615,375. Its auditors prepared financials on a going concern basis, noting future operations depend on additional equity or debt financing and eventual profitable production that is uncertain. The report details extensive risk factors typical for early-stage miners, including financing risk, permitting, environmental regulation, title, competition and commodity price volatility.

Foremost Clean Energy Ltd. reported receiving a $50,000 grant from Saskatchewan’s Targeted Mineral Exploration Incentive program to support its uranium exploration work in the Athabasca Basin. The company plans to use the funds for geological, geophysical and drill-target development on its Saskatchewan uranium portfolio.

Foremost also granted 201,969 stock options and 266,035 restricted share units under its Long-Term Incentive Plan to directors, officers, employees and consultants. The options are exercisable at $2.30 per share for five years, and all awards vest in three equal tranches on April 1, 2027, April 1, 2028 and April 1, 2029, aligning management and staff with long-term shareholder interests.

Foremost Clean Energy Ltd. is inviting investors to a live webinar and Q&A on June 3, 2026, at 4:15 p.m. ET, hosted by RedChip Companies. President and CEO Jason Barnard will update attendees on uranium exploration across the company’s 10-property portfolio in the Athabasca Basin and its collaboration with Denison Mines.

The discussion will also cover lithium and gold exploration initiatives, the company’s capital position, and 2026 exploration objectives. Foremost positions itself as a North American uranium and lithium exploration company focused on supplying materials for carbon-free energy as power demand from AI, data centers, and electrification grows.

Foremost Clean Energy Ltd. is issuing 137,590 common shares to Denison Mines Corp. under an existing investor rights agreement, at a price of $2.44 per share for aggregate proceeds of $335,719.60. The shares will be issued via a private placement and will be subject to a hold period of four months and one day.

The company plans to use the proceeds to advance exploration across its 330,000 acres of Athabasca Basin uranium properties, including the Hatchet Lake Uranium Project, and for general corporate purposes. Following completion, Denison is expected to hold 2,600,000 Foremost common shares, representing about 15.8% of the company’s issued and outstanding shares, plus 607,600 warrants.

Foremost Clean Energy Ltd. reports the completion of its 2026 drill program at the Hatchet Lake South Uranium Project, which expanded the Tuning Fork Uranium Zone in Saskatchewan’s Athabasca Basin. A key new intercept in hole TF-26-36 returned 0.18% eU₃O₈ over 2.9 metres, extending the northern extent of uranium mineralization by about 100 metres.

The strongest interval of the program came from hole TF-26-30, which intersected 0.34% eU₃O₈ over 4.6 metres, including 1.0% eU₃O₈ over 1.4 metres. Overall, uranium mineralization exceeding 0.05% eU₃O₈ was intersected in six drillholes across four of five drill fences in a 19‑hole, 3,848‑metre program.

Approximately 600 metres of conductive strike length at the Tuning Fork trend remain open to the south for follow-up drilling. Foremost has also started a 750–1,000 metre diamond drill program at the Richardson SE target on Hatchet Lake North, testing more than 5 kilometres of untested conductors within another prospective structural corridor.