Foremost Lithium Announces Intention to Spin-Out its Winston Group of Gold and Silver Properties
VANCOUVER, British Columbia, June 04, 2024 (GLOBE NEWSWIRE) — Foremost Lithium Resource & Technology Ltd. (NASDAQ:FMST) (CSE: FAT) (“Foremost Lithium”, “Foremost” or the “Company”), is pleased to announce its intention to spin-out (the “Spin-Out”) the Company’s gold and silver Winston Group of Properties (collectively, the “Properties” or the “Winston Property”) into a newly incorporated wholly-owned subsidiary to be named Rio Grande Resources Ltd (“Rio Grande” or “RGR”). It is expected that the Spin-Out will be affected by way of a plan of arrangement (the “Arrangement”). The Company’s Winston Group of Properties – situated over a 3,000-acre drill-ready site – contains three historic past producing gold and silver mines: Ivanhoe, Emporia and Little Granite located in Sierra County, New Mexico, USA.