Street Calls of the Week
VANCOUVER - Denison Mines Corp. (TSX:DML, NYSE American: DNN) will acquire 485,000 common shares of Foremost Clean Energy Ltd. (NASDAQ:FMST) (CSE:FAT) at $2.20 per share for a total of $1,067,000, according to a Wednesday announcement. Foremost, currently trading at $3.05, has seen its stock price surge over 240% in the past six months, according to InvestingPro data.
The share purchase stems from Denison’s equity participation right under the Amended & Restated Investor Rights Agreement dated July 23, 2025, between the two companies. The transaction relates to warrant exercises and property payments, including Foremost’s final payment for its Jean Lake Lithium/Gold Property.
Following the private placement, Denison will own approximately 19.17% of Foremost’s outstanding common shares. The newly issued shares will be subject to a four-month and one-day hold period in accordance with securities laws.
Foremost Clean Energy plans to use the proceeds to advance exploration of its 330,000-acre uranium portfolio in Saskatchewan’s Athabasca Basin and for general corporate purposes.
The company currently holds an option from Denison to earn up to a 70% interest in 10 uranium properties in the Athabasca Basin region, with the exception of Hatchet Lake, where Foremost can earn up to a 51% interest.
The private placement has received approval from the Canadian Securities Exchange, according to the company’s press release statement.
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