Foremost Clean Energy (NASDAQ: FMST) (CSE: FAT) announced that its shareholders have overwhelmingly approved a plan of arrangement to spin out the Winston gold and silver properties in New Mexico into a new entity, Rio Grande Resources Ltd. Shareholders will receive two Rio Grande shares for each Foremost share, and both entities will operate as separate public companies upon closing, expected around January 10, 2025, pending court and regulatory approvals. Foremost will continue focusing on uranium and lithium exploration, while Rio Grande will develop the Winston Property. Additionally, Amanda Willett, an experienced mining sector legal expert, was elected to the board, further strengthening Foremost’s governance team.
To view the full press release, visit https://ibn.fm/Rtvyc
About Foremost Clean Energy Ltd.
Foremost Clean Energy, assuming the effectiveness of the transaction, will be an emerging North American uranium exploration company with interests in 10 prospective properties spanning over 330,000 acres in the prolific, uranium-rich Athabasca Basin. As global demand for decarbonization accelerates, the need for nuclear power is crucial. Foremost expects to be positioned to capitalize on the growing demand for uranium through discovery in a top jurisdiction with the objective to support the world’s energy-transition goals. Alongside its exploration partner Denison, Foremost will be committed to a strategic and disciplined exploration strategy to identify resources by testing drill–ready targets with identified mineralization along strike of recent major discoveries. Foremost also maintains a secondary portfolio of significant lithium projects at different stages of development spanning over 50,000 acres across Manitoba and Quebec. For more information about the company, visit www.ForemostCleanEnergy.com.
NOTE TO INVESTORS: The latest news and updates relating to FMST are available in the company’s newsroom at http://ibn.fm/FMST
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