Foremost Lithium provides update for rescheduled AGSM

Foremost Clean Energy has filed its notice of meeting of shareholders, management information circular dated November 12, 2024 and related documents with the applicable Canadian securities regulatory authorities in connection with its rescheduled 2024 Annual General and Special Meeting of Shareholders. The Meeting will now take place at 10:00 a.m. on Friday, December 20, 2024, at the offices of Stikeman Elliott LLP, Suite 1700, 666 Burrard Street, Vancouver, BC. Shareholders of record on October 24, 2024, will be asked to consider amongst other things and, if deemed advisable, to pass, with or without variation, a special resolution, approving a statutory plan of arrangement under the Business Corporations Act to facilitate the Spin-Out. The Arrangement Resolution requires approval of at least 66 2/3% of the votes cast by shareholders at the Meeting. At the Meeting, shareholders will also be asked to consider ordinary resolutions relating to the number of directors, the election of directors and appointment of auditors of the Company for the ensuing year, as well as certain amendments to the Company’s current stock incentive plan. Foremost’s board of directors has unanimously approved the strategic spin-out of the Winston Group of Gold and Silver Properties to Rio Grande Resources, a recently incorporated wholly-owned subsidiary of Foremost. Pursuant to the Arrangement, among other things, the Properties will be transferred to Rio Grande, and Foremost Shareholders will exchange each outstanding common share of Foremost for one new common share of Foremost and two common shares of Rio Grande. Foremost is expected to initially retain an approximate 19.95% interest in Rio Grande. Completion of the Arrangement is conditional upon, among other things, the listing of the Rio Grande Shares on the Canadian Securities Exchange or other stock exchange. The Properties span over 3,000-acres, with drill-ready targets, northwest of the town of Truth or Consequences covering the Chloride Mining District in Sierra County, New Mexico, United States. The Properties consist of 147 unpatented lode mining claims, including four Little Granite claims and two patented mining claims in both Ivanhoe and Emporia, for a total aggregate of 149 total mining claims. The Ivanhoe, Emporia and Little Granite mines, each produced high-grade gold and silver during their full-time operations over a century ago, with Little Granite producing high value ore from some of its underground shoots. The Board also unanimously approved the proposed directors of Rio Grande, consisting of: Jason Barnard – CEO & Director: Mr. Barnard has been the CEO, President, and Director of Foremost since 2022. Raymond Strafehl – President & Director: Strafehl is the current President of Redline Minerals. Richard Silas – Independent Director: Silas pulls on an extensive background with Canadian public companies, currently serving as Director and VP of Corporate Development at Guanajuato Silver Company Ltd., as well as Director and CFO of Northern Lion Gold Corp.