Source: Foremost Lithium Resource & Technology Ltd.
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  • Foremost Lithium (FAT) has completed its previously announced non-brokered private placement for gross proceeds of $1,661,807
  • The company issued 4,887,668 flow through common shares for $0.34 per share
  • Gross proceeds will be used for exploration on the company’s mineral properties in Manitoba
  • Foremost Lithium is a resource exploration company focused on providing lithium used to produce high quality battery-grade lithium hydroxide
  • Foremost Lithium Resource & Technology Ltd. (FAT) is down 3.57 per cent on the day, trading at C$0.135 per share at 10:30 am ET

Foremost Lithium (FAT) has completed its previously announced non-brokered private placement for gross proceeds of $1,661,807.

The company issued 4,887,668 flow through common shares for $0.34 per share.

John Gravelle, Foremost Lithium’s CEO and President, commented on the capital raise.

“I am very pleased to announce this strategic financing to continue our exploration efforts on our Manitoba properties. This will enable us to accelerate our pace for our planned 2022 drill programs. We feel the company is well positioned with the new acquisition of the Peg North property in Snow Lake and will continue to provide shareholders with updates.”

Gross proceeds will be used for exploration on the company’s mineral properties in Manitoba.

A finder’s fees consisting of $98,000 in cash and 288,235 warrants was paid.

Foremost Lithium is a resource exploration company focused on providing lithium used to produce high quality battery-grade lithium hydroxide to fuel the electric vehicle and battery storage market. The company is exploring its five lithium properties: Jean Lake, Grass River, Zoro and Jol located in Snow Lake, Manitoba, and Hidden Lake in the Northwest Territories. Foremost also holds its Winston Gold/Silver Project in New Mexico.

Foremost Lithium Resource & Technology Ltd. (FAT) is down 3.57 per cent on the day, trading at C$0.135 per share at 10:30 am ET.

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