GlobeNewswire·May 19, 2026, 8:30 AM ET

Foremost Clean Energy to Issue Shares to Denison Mines Corp. Under Investor Rights Agreement, Strengthening its Treasury

Foremost Clean Energy Ltd. received notice from Denison Mines Corp. to exercise equity participation rights under the July 23, 2025 Investor Rights Agreement.
Foremost will issue 137,590 common shares to Denison at $2.44 per share for total proceeds of $335,719.60.
The issued shares are subject to a four-month and one-day hold period under applicable securities laws.
Proceeds will fund exploration of the 330,000-acre Athabasca Basin uranium portfolio, including the Hatchet Lake Uranium Project, and cover general corporate purposes.
Denison's stake in Foremost will increase from approximately 15.1% to 15.8% following the transaction, raising its total share count from 2,462,410 to 2,600,000.
Denison currently holds 607,600 Foremost warrants, representing approximately 17% of the company's outstanding warrants.
Denison intends to file an early warning report regarding the change in shareholdings under National Instrument 62-103.
The press release includes forward-looking statements regarding capital availability, exploration programs, and regulatory approvals.