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

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[{"type":"text","content":"Foremost Clean Energy to Issue Shares to Denison Mines Corp. Under Investor Rights Agreement, Strengthening its Treasury\nVANCOUVER, British Columbia, May 19, 2026 (GLOBE NEWSWIRE) -- Foremost Clean Energy Ltd. (NASDAQ: FMST) (CSE: FAT) (“Foremost” or the “Company”) announces that further to the Amended & Restated Investor Rights Agreement dated July 23, 2025 (the “Denison IRA”) between the Company and Denison Mines Corp. (“Denison”, TSX: DML, NYSE American: DNN), Denison notified the Company of its intention to subscribe for common shares pursuant to its equity participation right relating to certain share issuances completed by the Company (see press release March 31, 2026). The share issuances were related to the closing of a bought deal private placement of flow through units. In connection with the exercise of the equity participation right, the Company will issue 137,590 common shares to Denison at a price of $2.44 per share for aggregate consideration of $335,719.60 (the \"Private Placement\"). The common shares that will be issued pursuant to the Private Placement are subject to a hold period of four (4) months and one (1) day from the date of issuance in accordance with applicable securities laws. A copy of the Denison IRA is available on the Company's SEDAR+ profile. The proceeds from the Private Placement will be used to advance exploration for the Company’s 330,000 acres/133,500+ hectare Athabasca Basin uranium portfolio, including its flagship Hatchet Lake Uranium Project, which recently returned 1.0% eU₃O₈ over 1.4 metres within 4.6m of 0.34% eU₃O₈ (see news release April 15, 2026) and for general corporate purposes. Denison held 2,462,410 Foremost common shares, representing approximately 15.1% of Foremost's issued and outstanding shares prior to closing of the issuance to Denison. On completion of the issuance to Denison, Denison is expected to hold 2,600,000 Foremost common shares, representing approximately 15.8% of Foremost's then issued and outstanding shares. Denison also holds 607,600 Foremost warrants, representing approximately 17% of the issued and outstanding warrants of Foremost. This information is being provided under the early warning requirements of applicable securities laws. Denison will be filing an ea...

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