Foremost Clean Energy Acquires Initial 20% Option on Denison's Uranium Exploration Properties

October 7, 2024

Foremost Clean Energy entered an option agreement with Denison Mines under which Foremost acquired an initial 20% of Denison's interest in 10 uranium exploration properties in the Athabasca Basin in exchange for issuing 1,369,810 Foremost shares to Denison (approx. 19.95% of Foremost). The option agreement allows Foremost to earn up to 70% of Denison's interest over three phases with additional cash/stock payments and exploration expenditure commitments to fund further earn-in phases.

Buyers
Foremost Clean Energy Ltd., Denison Mines Corp.
Targets
Denison Mines Corp. (interest in 10 uranium exploration properties)
Sellers
Denison Mines Corp.
Industry
Energy
Location
Ontario, Canada
Transaction Type
Divestiture

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