Foremost Clean Energy Faces Nasdaq Delisting Threat Due to Low Stock Price

Foremost Clean Energy Receives NASDAQ Notification Regarding Minimum Bid Price Requirement

April 25, 2023 - Foremost Clean Energy, Inc. (NASDAQ: FCEL) today announced that it has received a notification from the NASDAQ Stock Market LLC ("NASDAQ") regarding the company's minimum bid price requirement.

As previously announced, Foremost Clean Energy's common stock has traded below the minimum bid price requirement of $1.00 per share for a period of 30 consecutive trading days, as set forth in NASDAQ Listing Rule 5550(b)(2). As a result, the company has received a deficiency letter from NASDAQ stating that its common stock is not in compliance with the minimum bid price requirement.

The company has 45 calendar days from the date of the deficiency letter to regain compliance with the minimum bid price requirement. If the company's common stock fails to meet the minimum bid price requirement within the prescribed timeframe, it may be delisted from NASDAQ.

Foremost Clean Energy is exploring all available options to regain compliance with the minimum bid price requirement, including potential reverse stock splits, mergers, or acquisitions. The company will provide further updates as necessary.

About Foremost Clean Energy, Inc. Foremost Clean Energy, Inc. is a leading provider of clean energy solutions, including renewable energy systems and energy storage systems. The company is committed to providing innovative and sustainable energy solutions to meet the growing demand for clean energy.