Foremost Lithium Announces Second Option Payment on Peg North
Foremost Lithium Announces Second Option
Payment on Peg North
Vancouver, British Columbia--(Newsfile Corp. - June 23, 2023) -
Foremost Lithium Resource &
Technology Ltd.
(CSE: FAT) (OTCQB: FRRSF) (FSE: F0R0) (WKN: A3DCC8) (
"
Foremost
Lithium
"
,
"
Foremost
"
or the "
Company
") Further to its news releases of June 29, 2022 and June 20,
2023, in respect of the Company's option ("the Option") to acquire a 100% interest in acquire the Peg
North Claims located in the historic Snow Lake mining district in Manitoba, the Company confirms that it
will proceed with making its second installment Option Payment on or before June 28, 2023.
In
accordance with the terms of the Option agreement, the second installment payment will consist of a
cash payment of $100,000 and issuing an aggregate of 653,595 common shares (the "Shares") at a
deemed price of $.153
per share.
The Shares will be subject to a hold period of four months and one
day from the date of issuance.
On Behalf of the Board of Directors
Jason Barnard, President and CEO
Email:
Phone: +1 (604) 330-8067
The 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
Foremost Lithium is a hard-rock exploration company with over 43,000 acres located in Snow Lake,
Manitoba, and hosts a property in a known active lithium camp in Quebec called Lac Simard South
situated on over 11,400 acres.
Its 5 Lithium Lane Projects, Zoro, Jean Lake, Grass River, Peg North and Jol, as well as Lac Simard
South 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 extraction of lithium oxide (Li
O), and to
subsequently play a role in the production of high-quality lithium hydroxide (LiOH), to help power lithium-
based batteries, critical in developing a clean-energy economy. Foremost Lithium also has the Winston
Gold/Silver Property in New Mexico USA. Learn More at
www.foremostlithium.com
.
Forward-Looking Statements
This news release contains "forward-looking statements" and "forward-looking information" (as defined
under applicable securities laws), based on management's best estimates, assumptions, and current
expectations. Such statements include but are not limited to, statements with respect to the plans for
future exploration and development of the Company's properties and the acquisition of additional
exploration projects. Generally, these forward-looking statements can be identified by the use of forward-
looking terminology such as "expects", "expected", "budgeted", "forecasts", "anticipates" "plans",
"anticipates", "believes", "intends", "estimates", "projects", "aims", "potential", "goal", "objective",
"prospective", and similar expressions, or that events or conditions "will", "would", "may", "can", "could"
or "should" occur. These statements should not be read as guarantees of future performance or results.
Such statements involve known and unknown risks, uncertainties and other factors that may cause actual
results, performance or achievements to be materially different from those expressed or implied by such
statements, including but not limited to: risks related to the receipt of all necessary regulatory and third
party approvals for the proposed operations of the Company's business and exploration activities, risks
related to the Company's exploration properties; risks related to international operations; risks related to
general economic conditions, actual results of current exploration activities, unanticipated reclamation
expenses; changes in project parameters as plans continue to be refined; fluctuations in prices of
commodities including lithium and gold; fluctuations in foreign currency exchange rates, increases in
market prices of mining consumables, possible variations in reserves; failure of plant, equipment or
processes to operate as anticipated; accidents, labour disputes, title disputes, claims and limitations on
insurance coverage and other risks of the mining industry; delays in the completion of exploration,
development or construction activities, changes in national and local government regulation of mining
operations, tax rules and regulations, and political and economic developments in jurisdictions in which
the Company operates. . Although the Company has attempted to identify important factors that could
cause actual results to differ materially from those contained in forward-looking statements, there may be
other factors that cause results not to be as anticipated, estimated or intended. There can be no
assurance that such statements will prove to be accurate, as actual results and future events could differ
materially from those anticipated in such statements. The forward-looking statements and forward-
looking information are made as of the date hereof and are qualified in their entirety by this cautionary
statement. The Company disclaims any obligation to revise or update any such factors or to publicly
announce the result of any revisions to any forward-looking statements or forward-looking information
contained herein to reflect future results, events, or developments, except as require by law. Accordingly,
readers should not place undue reliance on forward-looking statements and information. Please refer to
the Company's most recent filings under its profile at
www.sedar.com
for further information respecting
the risks affecting the Company and its business.
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/171218