Foremost Clean Energy Ltd. (FMST) Form 6-K — Oct 22, 2026
Foremost Clean Energy struck a deal with Denison Mines to sell a 31% interest in its GR and Blackwing uranium properties, form two exploration joint ventures, and issue 1,031,191 warrants at $1.80 — a 175%+ premium to the stock's $0.64 close — for total consideration of $650,000. Foremost retains a 20% stake in each property while Denison funds 80% of future expenditures. The arrangement lets Foremost keep exploration upside on district-scale Athabasca Basin properties without carrying the full cost, and it preserves Foremost's right to earn up to 70% in seven other Denison-optioned properties via $12.0 million in expenditures by July 2029 plus $2.5 million.
Key figures
- Gross Proceeds
- 650000
- Warrant premium
- over 175% to closing price of $0.64 on Oct 22, 2026
- Warrants issued
- 1031191
- Blackwing claims
- 3
- Blackwing hectares
- 12627
- Gr property claims
- 16
- Warrant term years
- 5
- Gr property hectares
- 78585
- Tv campaign cost usd
- 150000
- Ownership cap percent
- 19.95
- Warrant exercise price
- 1.8
- Redchip monthly fee usd
- 11000
- Option tranche3 deadline
- July 9, 2029
- Nasdaq compliance deadline
- April 19, 2027
- Option tranche3 payment usd
- 2500000
- Retained jv interest percent
- 20
- Denison funding share percent
- 80
- Option tranche3 expenditure usd
- 12000000
AI analysis
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