Mar. 20 at 4:15 PM
$FMST Foremost Clean Energy Ltd. (NASDAQ:FMST) (CSE:FAT) ("Foremost" or the "Company"), is pleased to announce that it has entered into an agreement with Canaccord Genuity Corp., as lead underwriter and sole bookrunner (the "Underwriter"), in connection with a "bought deal" private placement of 1,618,000 units of the Company (the "Units") at a price of C
$3.40 per Unit (the "Issue Price") for aggregate gross proceeds of
$5.5 million (the "Offering").
Each Unit shall consist of one common share of the Company and one half of one common share purchase warrant of the Company (each whole warrant, a "Warrant"), each of which will qualify as a "flow through share" within the meaning of subsection 66(15) of the Income Tax Act (Canada) (the "Tax Act"). Each Warrant shall be exercisable to acquire one common share of the Company (a "Warrant Share") for a period of 24 months from the Closing Date (as defined herein) at an exercise price of C
$4.40 per Warrant Share.
