Spin-off - Foremost Lithium Resource & Technology Ltd.

Form Type: 20-F

Filing Date: 2025-06-20

Corporate Action: Spin-off

Type: Update

Accession Number: 000117184325004004

Filing Summary: Foremost Clean Energy Ltd. reported a significant corporate action in the form of a spin-off that was completed on January 31, 2024. The spin-off involved the incorporation of a company named Rio Grande, which was established on July 19, 2024, specifically for this purpose. Prior to the spin-off, both Sierra and Rio Grande were consolidated into Foremost through January 31, 2024. The document also notes the adjustment in certain stock options as part of the Arrangement Agreement, which was modified on January 31, 2025. Additionally, the financial results as of March 31, 2025, indicate various exercises and expiring options that reflect the company’s ongoing management of its equity and related instruments. Overall, the company continues to adjust its strategies following the significant structural changes due to the spin-off.