Foremost Lithium Announces Results of AGM and Executive Changes Including Jason Barnard as New Interim President & CEO
Foremost Lithium Announces Results of AGM
and Executive Changes Including Jason
Barnard as New Interim President & CEO
Vancouver, British Columbia--(Newsfile Corp. - December 5, 2022) -
Foremost Lithium Resource &
Technology Ltd.
(CSE: FAT) (OTCQB: FRRSF) (FSE: F0R0) (WKN: A3DCC8)
(
www.foremostlithium.com
) (
"
Foremost Lithium", "Foremost"
or the
"Company")
is pleased to
announce the voting results from its Annual General and Special Meeting of Shareholders (the
"Meeting"), held in Vancouver on Friday, December 02, 2022. All resolutions presented to shareholders
were approved apart from the Company's Fixed Performance Unit Plan ("PSUs"), which shareholders
overwhelmingly rejected with 98.2% voting against. The new Board of Directors ("the Board")
acknowledges that shareholders have not ratified the PSU plan. The Board accepted Andrew Lyon's
PSU forfeiture of 3,000,000 PSUs and to enter into an agreement with Mr. Lyons formalizing the
forfeiture.
Following the AGM, the newly elected board, comprised of Jason Barnard, Andrew Lyons, Johnathan
More, Christopher MacPherson and Michael McLeod held its first board meeting approving the following
resolutions:
Interim President and CEO
Jason Barnard, an incumbent director, brings over 31 years experience in capital markets, focused on
Canadian base metal companies, helping raise over $500 million for mining and exploration companies.
He holds a Bachelor of Arts degree with a major in Economics and has passed The Canadian
Securities Course.
Mr. Barnard has helped finance the Company since 2016 and currently holds over
10% of Foremost's outstanding shares.
Stock Options
In regard to the new appointments, the Company announces it has granted incentive stock options to
purchase an aggregate of 3,100,000 common shares of the Company at an exercise price of $0.18 per
common share expiring three years from the date of grant.
The stock options are granted in accordance
with the Company's Stock Option Plan, which was approved by the shareholders at the Company's
Meeting that was just held and the policies of the Canadian Securities Exchange. The new interim
President and CEO, Jason Barnard declined to participate in the stock option grant.
Message from the new President
Jason Barnard, Foremost's newly appointed interim President and CEO, comments,
"I feel confident
being in this position to execute on decisions to help elevate our company. This is a strong board
supported by our existing experienced technical and management team that should advance our
projects, and help our company reach its full potential. This represents an exciting time for Foremost
and all of its stakeholders and most importantly its shareholders."
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 Resource & Technology Ltd.
Foremost Lithium is a hard-rock exploration company strategically located to capitalize on the world's
growing EV appetite and is committed to being a premier supplier of North America's lithium feedstock.
As the world transitions towards decarbonization, the Company is focused on exploration and growth on
its 5 Lithium Lane Projects in Snow Lake Manitoba. Foremost Lithium also has the Winston Gold/Silver
Property in New Mexico USA.
Follow us or contact us on social media:
Twitter:
@foremostlithium
Linkedin:
https://www.linkedin.com/company/foremost-lithium-resourcetechnology/mycompany
Facebook:
https://www.facebook.com/ForemostLithium
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 Company's the completion of the transaction
on the terms and within the time disclosed herein, or at all. 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/146703