Foremost Clean Energy, Rio Grande Resources complete spin-out

Foremost Clean Energy (FMST) and Rio Grande Resources announced that Foremost and Rio Grande have completed their previously announced spin out of Foremost’s Winston gold and silver properties to Rio Grande. The Spin-Out was completed this morning by way of statutory plan of arrangement pursuant to the Business Corporations Act. Pursuant to the Arrangement, holders of common shares of Foremost immediately prior to the Effective Date received in exchange, one new common share of Foremost and two common shares of Rio Grande. Registered shareholders should refer to Foremost’s news release dated January 28, 2025, for further details on how to receive their New Foremost Shares and Rio Grande Shares. Subject to Rio Grande satisfying all of the conditions of the CSE, listing of the Rio Grande Shares on the CSE under the symbol ‘RGR’ is expected to commence at market open on or around February 4, 2025.