Foremost Clean Energy Ltd. (
NASDAQ:
FMST) (
CSE: FAT)
(“
Foremost” or the “
Company”), an
emerging North American uranium and lithium exploration company, is
pleased to announce today that it has entered into a strategic
agreement (the “
Agreement”) with Red Cloud
Financial Services Inc. ("
RCFS" or "
Red
Cloud"), an arms-length independent contractor, to provide
promotional services, including advice on marketing, communications
and social media activities. Under the engagement, Red Cloud will
be paid a fee of $10,000 per month effective October 14, 2024, for
a twelve-month term which automatically renews month-to-month
thereafter unless either party provides written notice of
termination to the other party thirty (30) days prior to the date
of termination.
Pursuant to the Agreement, Red Cloud will review
and advise on non-deal road shows, review, draft and advise on
traditional marketing documents, make introductions to, meet and
communicate with corporate analysts, institutional and professional
investors and retail brokers, provide traditional media support and
assist in the creation of content for Red Cloud's exclusive RCTV
platform and dissemination of content via RCTV, and other services
as required by the Company. There are no performance obligations
contained in the Agreement and Red Cloud will not receive common
shares, stock options or any form of equity in the Company as
compensation. Red Cloud is an IIROC regulated dealer and a leading
provider of financial services to the global mining sector, with
headquarters in Toronto, Canada and can be reached at
1-844-621-1251, 1-647-792-7978 or info@redcloudfs.com.
Jason Barnard, President and CEO of Foremost,
comments: “We will be able to introduce our Athabasca Uranium
Projects to a new audience by utilizing Red Cloud, a reputable
company specializing in the mining and uranium industry. Nuclear
energy is crucial for long-term sustainable growth in clean energy
given the need for global decarbonization. This strategic
marketing program should increase awareness of Foremost and
provide us opportunities to engage with key retail and
institutional investors in Canada and the United States.”
Equity CompensationForemost
also announces that it has granted a total of 175,009 stock options
(“Options”) and 222,491 Restricted Share Units
(“RSUs”), collectively, (the
“Awards”), to certain directors, officers and
consultants of the Company in accordance with the Foremost’s Stock
Incentive Plan (the “Plan”), adopted by
shareholders of the Company at its annual general and special
meeting held on January 25, 2024. The Plan’s goal is to create an
incentive compensation program that is aligned with the Company’s
long-term objectives. The Options are exercisable at a price of
$2.76 per share and valid for a term of 3 to 5 years. A portion of
the Options and RSUs are subject to vesting provisions. All Awards
are subject to a statutory hold period of four months and one
day.
The engagement of Red Cloud is subject to
approval by the Canadian Securities Exchange (“CSE”) and Nasdaq.
The Awards were granted in accordance with the Plan and the
policies of the CSE and Nasdaq.
About Foremost
Foremost Clean Energy (NASDAQ: FMST) (CSE: FAT)
(WKN: A3DCC8) is an emerging North American uranium and lithium
exploration company with an option to earn up to a 70% interest in
10 prospective uranium properties (with the exception of the
Hatchet Lake, where Foremost is able to earn up to 51%) spanning
over 330,000 acres in the prolific, uranium-rich Athabasca Basin
region of northern Saskatchewan. 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. Foremost’s uranium projects are
at different stages of exploration, from grassroots to those with
significant historical exploration and drill-ready targets. The
Company’s mission is to make significant discoveries, alongside and
in collaboration with Denison (TSX:DML, NYSE American: DNN),
through systematic and disciplined exploration programs.
Foremost also has a portfolio of lithium
projects at varying stages of development, which are located across
55,000+ acres in Manitoba and Quebec. For further information
please visit the company’s website at
www.foremostcleanenergy.com.
Contact and Information
CompanyJason Barnard, President
and CEO+1 (604) 330-8067 info@foremostcleanenergy.com
Investor RelationsLucas A.
ZimmermanManaging DirectorMZ Group - MZ North America(949)
259-4987FMST@mzgroup.us www.mzgroup.us
Follow Us Or Contact Us On Social
Media:X: @fmstcleanenergy Linkedin:
https://www.linkedin.com/company/foremostcleanenergy/ Facebook:
https://www.facebook.com/ForemostCleanEnergy/
Forward-Looking Statements
Except for the statements of historical fact
contained herein, the information presented in this news release
and oral statements made from time to time by representatives of
the Company are or may constitute “forward-looking statements” as
such term is used in applicable United States and Canadian laws and
including, without limitation, within the meaning of the Private
Securities Litigation Reform Act of 1995, for which the Company
claims the protection of the safe harbor for forward looking
statements. Such forward-looking statements and forward-looking
information include, but are not limited to, statements concerning
theactivities proposed to be undertaken by Red Cloud and the
ability of the Plan to achieve its objectives, . These statements
relate to analyses and other information that are based on
forecasts of future results, estimates of amounts not yet
determinable and assumptions of management. Any other statements
that express or involve discussions with respect to predictions,
expectations, beliefs, plans, projections, objectives, assumptions
or future events or performance (often, but not always, using words
or phrases such as “expects” or “does not expect,” “is expected,”
“anticipates” or “does not anticipate,” “plans,” “estimates” or
“intends,” or stating that certain actions, events or results
“may,” “could,” “would,” “might” or “will” be taken, occur or be
achieved) are not statements of historical fact and should be
viewed as forward-looking statements. Such forward-looking
statements involve known and unknown risks, uncertainties and other
factors which may cause the actual results, performance or
achievements of the Company to be materially different from any
future results, performance or achievements expressed or implied by
such forward-looking statements. Such risks and other factors
include, among others, the availability of capital to fund programs
and the resulting dilution caused by the raising of capital through
the sale of shares, continuity of agreements with third parties and
satisfaction of the conditions to the Transaction, risks and
uncertainties associated with the environment, delays in obtaining
governmental approvals, permits or financing. Although the Company
has attempted to identify important factors that could cause actual
actions, events or results to differ materially from those
described in forward-looking statements, there may be other factors
that cause actions, events or results not to be as anticipated,
estimated or intended. There can be no assurance that such
statements will prove to be accurate as actual results and future
events could differ materially from those anticipated in such
statements. Although the Company believes that the expectations
reflected in such forward-looking statements are based upon
reasonable assumptions, it can give no assurance that its
expectations will be achieved. Forward-looking information is
subject to certain risks, trends and uncertainties that could cause
actual results to differ materially from those projected. Many of
these factors are beyond the Company’s ability to control or
predict. Important factors that may cause actual results to differ
materially and that could impact the Company and the statements
contained in this news release can be found in the Company’s
filings with the Securities and Exchange Commission. The Company
assumes no obligation to update or supplement any forward-looking
statements whether as a result of new information, future events or
otherwise. Accordingly, readers should not place undue reliance on
forward-looking statements contained in this news release and in
any document referred to in this news release. This news release
shall not constitute an offer to sell or the solicitation of an
offer to buy securities. and information. Please refer to the
Company’s most recent filings under its profile at on SEDAR+ at
www.sedarplus.ca and on Edgar at www.sec.gov for further
information respecting the risks affecting the Company and its
business.
The Canadian Securities Exchange has neither approved nor
disapproved the contents of this news release and accepts no
responsibility for the adequacy or accuracy hereof
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