Business
Foremost Closes Previously Announced Acquisition of Lac Simard South Property in Quebec
Vancouver, British Columbia--(Newsfile Corp. - May 15, 2023) - Foremost Lithium Resource & T...
About this update from Foremost Clean Energy Ltd.
[{"type":"text","content":"Foremost Closes Previously Announced Acquisition of Lac Simard South Property in QuebecVancouver, British Columbia--(Newsfile Corp. - May 15, 2023) - Foremost Lithium Resource & Technology Ltd. (CSE: FAT) (OTCQB: FRRSF) (FSE: F0R0) (WKN: A3DCC8) (\"Foremost Lithium\", \"Foremost\" or the \"Company\") is pleased to announce it has completed the previously announced acquisition of a 100% interest in the Lac Simard South property (the \"Property\"). This acquisition consists of 60 claims covering 8,612 acres/3,485 hectares and hosts 12 identified pegmatites via satellite imagery. In addition, Foremost independently staked and recorded 20 additional mineral claims which are contiguous with the borders of these 60 claims, which resulted in an increase of Lac Simard South land package to 80 mineral claims and to the total area to 11,482 acres/4,647 hectares. These pegmatites are located approximately 90KM southwest from the NAL Lithium Processing Plant, which just announced it produced its first batch of spodumene concentrate (SC6)1 and 80 km southwest of Val-D'or, a logistics hub for mining services. Pursuant to the property acquisition agreement, in consideration of the Property, Foremost paid the vendors cash consideration of $17,500 plus GST and issued 535,000 common shares (the \"Shares\") at a deemed price of $0.15 per share. The Shares are subject to a hold period of four months and one day from the date of issuance. A further cash payment in the amount of $17,500 plus GST is due and payable to the Property vendors within four months after closing.On Behalf of the Board of DirectorsJason Barnard, President and CEOEmail: [email protected] Phone: +1 (604) 330-8067The Canadian Securities Exchange has neither approved nor disapproved the contents of this news release and accepts no responsibility for the adequacy or accuracy hereof.About Foremost Lithium Resource & Technology Ltd.Foremost Lithium is a hard-rock exploration company with over 42,000 acres located in Snow Lake, Manitoba. Its 5 Lithium Lane Projects, Zoro, Jean Lake, Grass River, Peg North and Jol, are strategically located to capitalize on the world's growing EV appetite and is perfectly positioned to become a premier supplier of North America's lithium feedstock. As the world transitions towards decarbonization, the Company's objective is the extr...