Company: AUST
Filing Date: 2025-03-27
Form Type: 20-F
Source: 0001410578-25-000509
Chunk: 159

Company: Austin Gold Corp.
Filing Date: 2025-03-27
Form: 20-F
Item: Item 19
Chunk 159
---
 reserve warrants warrants
───────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────
Outstanding, January 1, 100,000 $ 59,702 362,833 263,596 - - 
Transactions during the year:
Warrants issued - IPO - - - - 262,833 238,217
Warrants issued - consultants - - - - 100,000 25,379
Value assigned to warrants vested - consultants - 3,526 - 34,323 - - 
Warrants expired - - ( 262,833) ( 238,217) - - 
Outstanding, December 31, 100,000 $ 63,228 100,000 59,702 362,833 263,596
At December 31, 2024, the weighted average exercise price for the outstanding warrants is$ 0.81(2023 - $ 0.81; 2022 - $3.41) and the weighted average remaining life is0.84 years (2023 - 1.84 years; 2022 - 1.40 years).

F-22

Table of Contents

  AUSTIN GOLD CORP.                                          
  NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS             
  For the years ended December 31, 2024, 2023 and 2022       
  Expressed in United States dollars, except for share data  

13. SHARE CAPITAL AND OTHER RESERVES (Continued)

On November 1, 2022, the Company issued100,000 warrants to an investor relations consultant. The warrants vest over tranches at an exercise price of$ 0.81. The warrants expire on November 1, 2025. The total share-based compensation expense for the year ended December 31, 2024 was$ 3,526(2023 - $ 34,323; 2022 - $26,480) which was expensed in the consolidated statement of loss and comprehensive loss.

On May 6, 2022, the Company issued262,833 warrants to the underwriters in connection with the IPO. The warrants were exercisable at a price of$ 4.40 or on a cashless basis for shares at the option of the holder. At issuance, the underwriter warrants were valued at$ 238,217 using the Black-Scholes pricing model and were recorded as a share issuance cost