Foremost Clean Energy Ltd. Adjusts Stake in Rio Grande Resources Following Private Placement
In a recent development, Foremost Clean Energy Ltd. has reported a change in its investment position regarding Rio Grande Resources Ltd. This comes after Rio Grande successfully completed a significant private placement, impacting the shareholding structure.
Located in Vancouver, British Columbia, Foremost Clean Energy Ltd. (NASDAQ: FMST, CSE: FAT) announced the filing of an early warning report concerning its stake in Rio Grande Resources Ltd. This action follows Rio Grande’s private placement, which closed on August 24, 2026, garnering $2,546,500 in gross proceeds. The transaction involved the issuance of 12,732,500 Units at $0.20 each, where each Unit comprises one common share and one transferable purchase warrant.
Prior to this placement, Foremost held 5,152,558 shares of Rio Grande, which represented around 11.01% of the company’s outstanding shares. Post-placement, Foremost’s stake has decreased to approximately 8.65%, effectively lowering its position below the 10% threshold that necessitates early warning reporting.
This announcement is aligned with National Instrument 62-103, which covers The Early Warning System and Related Take-Over Bid and Insider Reporting Issues. The early warning report can be accessed under Foremost’s profile on SEDAR+ at www.sedarplus.ca.
About Foremost Clean Energy Ltd.
Foremost Clean Energy Ltd. is a North American exploration company focused on uranium, lithium, and gold. It aims to support the growing demand for carbon-free energy sources. The company holds an option to earn up to a 70% stake in several uranium properties in Saskatchewan’s Athabasca Basin, known for its rich uranium deposits.
Foremost also manages lithium projects in Manitoba over 43,000+ acres, underscoring its commitment to critical materials essential for energy storage and electrification. For more details, visit their website at www.foremostcleanenergy.com.
Contact Information
Company
David Cates, Interim President and CEO
(416) 979-1991 ext. 362
Stay connected via social media:
X: @fmstcleanenergy
Original Story at finance.yahoo.com