Curated News
By: NewsRamp Editorial Staff
September 03, 2025
Foremost Issues $1M+ Shares to Denison, Boosting Uranium Partnership
TLDR
- Denison Mines increases stake in Foremost Clean Energy to 19.17%, gaining strategic advantage in uranium exploration partnerships and future resource development.
- Foremost issues 485,000 shares to Denison at $2.20 each under their amended investor rights agreement, with a four-month hold period on the shares.
- This investment supports clean energy exploration for uranium and lithium, contributing to sustainable power solutions and reducing carbon emissions globally.
- Foremost's uranium projects span over 330,000 acres in Saskatchewan's Athabasca Basin, a region rich with exploration potential and historical significance.
Impact - Why it Matters
This transaction demonstrates the growing confidence in uranium exploration as nuclear energy gains renewed importance in the global clean energy transition. With countries worldwide re-evaluating nuclear power as a reliable, carbon-free energy source, companies like Foremost Clean Energy are positioned to benefit from increased demand for domestically sourced uranium. The strengthened partnership between Foremost and Denison, an established uranium producer, signals potential for accelerated exploration and development in the Athabasca Basin, one of the world's most prolific uranium regions. This matters because secure domestic uranium supplies are crucial for energy independence and meeting climate goals through nuclear power, which provides stable baseload electricity without greenhouse gas emissions.
Summary
Foremost Clean Energy Ltd. (NASDAQ: FMST) (CSE: FAT) has issued 485,000 common shares to Denison Mines Corp. (TSX: DML, NYSE American: DNN) at $2.20 per share, generating total proceeds of $1,067,000. This transaction, executed under the companies' Amended & Restated Investor Rights Agreement dated July 23, 2025, increases Denison's ownership stake in Foremost to approximately 19.17% of outstanding common shares. The Canadian Securities Exchange approved this issuance, which relates to Denison's equity participation rights from prior warrant exercises and property payments, with the shares subject to a standard four-month-plus-one-day hold period.
Foremost Clean Energy is a rapidly growing North American uranium and lithium exploration company holding significant assets in the uranium-rich Athabasca Basin region of northern Saskatchewan. Through an option agreement with Denison Mines, Foremost can earn up to a 70% interest in 10 prospective uranium properties spanning over 330,000 acres. The company's projects range from grassroots exploration to drill-ready targets, positioning it strategically in the clean energy sector as demand for domestically mined uranium and lithium continues to accelerate for carbon-free energy production.
The transaction underscores the strong partnership between Foremost and Denison, with both companies focused on systematic exploration programs to make significant discoveries in the critical minerals sector. For more details, investors can view the full press release through the provided link. MiningNewsWire, part of the Dynamic Brand Portfolio at IBN, serves as the specialized communications platform delivering this news to global mining and resources sector stakeholders.
Source Statement
This curated news summary relied on content disributed by InvestorBrandNetwork (IBN). Read the original source here, Foremost Issues $1M+ Shares to Denison, Boosting Uranium Partnership
