Investment Update - Board Unanimously Approves Foremost Asset Spin Out

Following the Foremost press release this morning I thought it would be good timing to provide a quick update as to my thoughts on

Disseminated on behalf of Foremost Lithium Resource & Technology Ltd. (Foremost) INVESTMENT UPDATE Foremost - $FMST This communication is not an offer to buy or sell securities nor is it to be construed as personal investment advice. Nothing contained in this communication should be relied upon as a promise or representation as to future performance.   Good Afternoon Traders, Following the Foremost Lithium Resource and Technology Ltd. (NASDAQ: FMST; CSE: FAT) press release this morning I thought it would be good timing to provide a quick update as to my thoughts on $FMST and where we are currently sitting from a technical standpoint. Today Foremost announced that it's "Board of Directors has unanimously approved the strategic spin-out of its Winston Group of Gold and Silver Properties into a newly incorporated and independent, publicly-traded company named Rio Grande Resources Ltd." "Pursuant to the Arrangement, Foremost shareholders will receive two (2) common shares of Rio Grande for each Foremost common share and will continue to retain their same proportionate interest in Foremost" Full press release For those that are new to Spartan Trading, Foremost is a unique North American clean energy exploration asset that I started covering a couple months ago. You can still read my previous investment analysis on Foremost in which I went into detail as to why I like this company from an investment standpoint - including their market advantages, opportunities and where I feel they fit from an overall macro and technical standpoint. I also covered my three price target levels going forward. Diving into the technical's on the chart below, we are flagging on the weekly to the upside since my last update. I am watching for a stair step higher and if we can break the $2.88 resistance level the technical's are indicating that we can move to the recent range high of $3.22 in the short term. IMO if that level breaks we will have a straight shot towards the $4.24 level to the upside. This is a very similar flag to the gold miners chart as it has been moving in short term sympathy with this asset that was recently unanimously approved by the Board for Spin-Out (Winston Group of Gold and Silver Properties).  Let's take a quick look at the Gold Miners chart below: $GDX Gold Miners Chart is bullishly consolidating on the daily to the upside for the next leg up. IMO I am expecting all the miners to break out of this short term downtrend and push as all EMA support is intact. $37.50 will be the key breakout for continuation back into the recent range highs. What the Winston Group Spin-Out Means   The Winston Group Spin-Out would see the creation of a newly incorporated, wholly-owned subsidiary called named Rio Grande Resources Ltd (RGR). What I like from an arbitrage standpoint is that for each common share that shareholders hold of $FMST those same shareholders will automatically receive two (2) common shares of RGR and that there will be no change in shareholders' relative holdings in Foremost as a result of the Spin-Out. Essentially, just by owning shares of $FMST you will automatically receive shares in the new entity that the company intents to list on the CSE. All Foremost shareholders of record as of September 9, 2024 will be eligible to cast their vote for approval of this this Spin-Out during the special meeting of shareholders that will be held on November 6, 2024. In the video below I do go into a little more details as to my thoughts of this proposed transaction.  Current Idea is a Long Speculation on $FMST More information on Foremost Lithium Resource & Technology Ltd., including their most recent press releases can be found here. Best Regards, Spartan (aka 'Chris')   This communication is for informational purposes only and should not be construed as an offer to buy or sell securities nor is it to be construed as personal investment advice. Nothing contained in this communication should be relied upon as a promise or representation as to future performance. An affiliate of Spartan Trading inc. ("Spartan") has been engaged by Foremost Lithium (FL) to provide it with consulting, promotional and or marketing services, and the information contained in this communication has been prepared by or on behalf of FL. 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