Foremost Clean Energy Raises $5.5 Million Through Private Placement Offering.

Foremost Clean Energy has announced a bought deal private placement of $5.5 million, with 1,618,000 units to be sold at a price of C$3.40 per unit. The offering will consist of one common share and one half of one common share purchase warrant. Denison Mines Corp., Foremost's largest shareholder, has the right to participate in the offering and may acquire up to 19.95% of the company's issued and outstanding common shares on a post-closing basis. The company will use the proceeds to incur Canadian exploration expenses on its mineral projects in Canada.