Foremost Prepares Strategic Spin-Out of Gold Assets

Foremost Lithium Resource & Technology Ltd (TSE:FAT) has released an update.

Foremost Clean Energy Ltd. is preparing to spin-out its Winston Group of Gold and Silver Properties into a newly formed subsidiary, Rio Grande Resources Ltd., and will seek shareholder approval at its rescheduled annual meeting on December 20, 2024. Shareholders will receive shares in both Foremost and Rio Grande, enabling them to benefit from the strategic realignment. The spin-out is contingent on several factors, including the listing of Rio Grande shares on a stock exchange.

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