VANCOUVER, British Columbia, Jan. 04, 2022 (GLOBE NEWSWIRE) -- FAR Resources Ltd (CSE:FAT) (FSE:F0R) (OTC Pink:FRRSF) ("Foremost" or the "Company") is pleased to announce that it will be changing the Company's name to FOREMOST LITHIUM RESOURCE & TECHNOLOGY LTD. In connection with the name change, the Company's trading symbol "FAT" for its common shares listed on the Canadian Securities Exchange (the "Exchange") will remain unchanged. The CUSIP number assigned to the Company's shares following the name change is 345510101 (ISIN: CA3455101012).
Scott Taylor, President and CEO of Foremost Lithium expresses "This is an exciting time for our company, and with the unveiling of our new name we can officially re-focus with a vision that we feel will increase maximum value to shareholders with a pivot to lithium. We officially retired the Company's old name, direction, and re-launched with new name, brand and website with a strategic focus on lithium exploration. The company aims to take advantage of the battery metals market and is committed on being a leading supplier of battery-grade lithium hydroxide. Given that lithium is one of the most in-demand strategic global commodities, we ensured our new name and strategies are aligned to take advantage of the explosive growth in demand for lithium.
Mr. Taylor adds. "Foremost Lithium Resource & Technology is in a unique position. We have over 16,000 combined acres between our Jean Lake and Zoro Lithium Projects located in Snow Lake Manitoba and our Hidden Lake Lithium Project in the Northwest Territories. Today is a new start for our company and for our shareholders. We have three fantastic lithium assets primed for exploration and we are anxious to advance our exploration program to define more drill targets and define more resource tonnage."
The Exchange will publish a bulletin announcing the effective date of the change in Foremost Lithium & Resource Technology Ltd's Name. The Company's common shares are anticipated to commerce trading on the Exchange under its new name and CUSIP number at market open on or about January 04, 2022 . No action is required to be taken by shareholders with respect to the name change. Outstanding share certificates are not affected by the name change and do not need to be exchanged.
Disclosure documents are available at
Scott Taylor, President and CEO, Foremost Lithium Resource & Technology
About Foremost Lithium
Foremost Lithium is an energy tech company driven to being one of the first North American Companies committed to produce high quality battery-grade lithium hydroxide domestically to fuel the electric vehicle battery market. Given the importance and global focus on increasing energy decarbonization, especially when it comes to vehicles, The Company is hyper-focused in continued exploration and growth on its three lithium properties, Jean Lake and Zoro located in Snow Lake, Manitoba, and Hidden Lake in the Northwest Territories. Foremost Lithium also holds assets in precious commodities with its Winston Gold/Silver Project in New Mexico, USA.
Scott Taylor
President and CEO
Foremost Lithium Resource & Technology
scott.taylor@foremostlithium.com
1 604 330-8067
The Canadian Securities Exchange has neither approved nor disapproved the contents of this news release and accepts no responsibility for the adequacy or accuracy hereof.
Forward Looking Statements
All statements in this press release, other than statements of historical fact, are "forward-looking information" with respect to Foremost within the meaning of applicable securities laws. Foremost provides forward-looking statements for the purpose of conveying information about current expectations and plans relating to the future and readers are cautioned that such statements may not be appropriate for other purposes. By its nature, this information is subject to inherent risks and uncertainties that may be general or specific and which give rise to the possibility that expectations, forecasts, predictions, projections or conclusions will not prove to be accurate, that assumptions may not be correct and that objectives, strategic goals and priorities will not be achieved. These risks and uncertainties include but are not limited to market conditions, exploration findings, results and recommendations, as well as those risks and uncertainties identified and reported in Foremost's public filings under Foremost's SEDAR profile at . Although Foremost has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. Foremost disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise unless required by law.