Business · Companies · 2 hrs ago
Foremost to Form Exploration Joint Ventures with Denison Mines
Foremost Clean Energy agreed to partner with Denison Mines on exploration at its GR and Blackwing properties.
The agreement covers two joint ventures and the sale of a 31% interest in the properties to Denison.
Foremost will receive $650,000 and retain a 20% interest in the properties.
The deal also includes 1,031,191 share purchase warrants, which give the holder the right to buy Foremost shares at a set price.
Those warrants can be exercised at $1.80 per share for five years, a price more than 175% above Foremost’s closing share price on October 22, 2026.
Foremost has six months before initial joint-venture spending is due, giving it a grace period before those costs begin.
Foremost Clean Energy has agreed to sell Denison Mines a 31% interest in its GR and Blackwing properties.
The companies will form two exploration joint ventures covering the properties.
Foremost will receive total consideration of $650,000 and issue Denison 1,031,191 share purchase warrants.
The warrants have an exercise price of $1.80 per share and a five-year term.
- Who
- Foremost Clean Energy and Denison Mines.
- What
- They agreed to a 31% interest sale, two exploration joint ventures and an issue of share purchase warrants.
- When
- The agreement was announced on October 22, 2026.
- Where
- The announcement was made from Vancouver, British Columbia.
- Why
- Not stated
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- Properties
- GR and Blackwing
- Consideration
- $650,000
- Interest
- 31% interest to be sold to Denison
- Warrants
- 1,031,191 share purchase warrants
- Exercise price
- $1.80 per warrant share