Foremost Clean Energy Ltd. (NASDAQ: FMST) has received a notification from Nasdaq regarding its stock price, revealing the company is currently not compliant with Listing Rule 5550(a)(2), which requires a minimum bid price of $1.00 per share.
The company's stock traded below the required threshold for 31 consecutive business days through April 4, 2025. Despite the notice, Foremost's Nasdaq listing remains active, and the company has been granted 180 calendar days—until October 6, 2025—to regain compliance with the stock price requirement.
Management is actively considering various strategies to address the situation, with a potential reverse stock split among the options under evaluation. The company has emphasized that its business operations and overall strategic direction will continue unchanged during this period.
As a clean energy and uranium exploration company with significant property interests across North America, Foremost remains positioned to capitalize on growing global demand for decarbonization and nuclear power. The company holds exploration properties spanning over 330,000 acres in the uranium-rich Athabasca Basin and maintains a secondary portfolio of lithium projects across Manitoba and Quebec.
