Foremost Lithium Announces Option Agreement with Denison Highlights
- Transformational opportunity to acquire up to a 70% interest in 10 highly-prospective uranium projects in the Athabasca Basin and collaborate with Denison Mines (TSX: DML, NYSE American: DNN)
- Foremost Lithium to change its name to Foremost Clean Energy Ltd.
- David Cates, Denison’s President and CEO, is expected to join Foremost’s Board of Directors
VANCOUVER, British Columbia, Sept. 24, 2024 (GLOBE NEWSWIRE) -- Foremost Lithium Resource & Technology Ltd. (NASDAQ: FMST) (CSE: FAT) (“Foremost Lithium”, “Foremost” or the “Company”) is pleased to announce today that it has executed a property acquisition agreement (the “Option Agreement”) with Denison Mines Corp. (“Denison”), which grants Foremost an option to acquire up to 70% of Denison’s interest in 10 uranium exploration properties, along with other ancillary agreements (collectively, the “Transaction”). Pursuant to the Transaction, Foremost will provide Denison with consideration, including cash, stock, and/or future exploration spending commitments by Foremost. The Transaction is subject to regulatory approvals. In connection with the Transaction, Foremost intends to change its name to “Foremost Clean Energy Ltd.” Full details of the terms of the Transaction and the name change are outlined below under “Key Terms of the Transaction and Name Change”.
Foremost Lithium Announces Option Agreement with Denison on (globenewswire.com)