InvestmentMay 19, 2026, 05:02 PM
Foremost Clean Energy to Issue Shares to Denison Mines for $335,719
AI Summary
Foremost Clean Energy Ltd. announced it will issue 137,590 common shares to Denison Mines Corp. at $2.44 per share, totaling $335,719.60. This private placement is pursuant to an equity participation right under their Investor Rights Agreement. The proceeds will be used to advance exploration of the company's Athabasca Basin uranium portfolio, including the Hatchet Lake Uranium Project, and for general corporate purposes. Following the issuance, Denison's ownership in Foremost will increase from approximately 15.1% to 15.8%.
Key Highlights
- Foremost Clean Energy will issue 137,590 common shares to Denison Mines Corp.
- The shares will be issued at a price of $2.44 per share.
- The aggregate consideration for the private placement is $335,719.60.
- Proceeds will fund exploration of the Athabasca Basin uranium portfolio and general corporate purposes.
- Denison's stake will increase from approximately 15.1% (2,462,410 shares) to 15.8% (2,600,000 shares).
- Denison also holds 607,600 Foremost warrants, representing approximately 17% of outstanding warrants.
Price Impact
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