Foremost Lithium Resource & Technology (NASDAQ:FMST) priced an underwritten public offering in the US of 800,000 units, each consisting of one common share and one warrant.
Each common share unit is being sold to the public at a price of $5.00 per unit.
The gross proceeds are expected to be $4M. The warrants within each common share unit will have a per share exercise price of $6.25.
Underwriters have a 45-day option to purchase up to an additional 120,000 common share units.
Net proceeds will be deployed for resource development activities, annual property payments, claim payments, royalty payments, general corporate purposes, and general business expenses.
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