Company: PRMLF
Filing Date: 2025-11-13
Form Type: 10-Q
Source: 0001493152-25-022391
Chunk: 116

Company: NexMetals Mining Corp.
Filing Date: 2025-11-13
Form: 10-Q
Item: Item 8
Chunk 116
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    September 30, 2025  
    December 31, 2024 

    Number Outstanding  
    Weighted Average Exercise Price $  
    Number Outstanding  
    Weighted Average Exercise Price $ 
  
    Outstanding, beginning of the year 
     779,343  
     25.60  
     674,401  
     27.80 
  
    Granted 
     299,000  
     9.99  
     170,500  
     21.00 
  
    Exercised 
     (12,000) 
     (9.00) 
     (13,905) 
     (17.20)
  
    Expired/cancelled 
     (52,553) 
     (19.53) 
     (51,653) 
     (40.20)
  
    Outstanding, end of the period 
     1,013,790  
     21.51  
     779,343  
     25.60 

    21

Notes
to the Unaudited Condensed Interim Consolidated Financial Statements

For
the three and nine months ended September 30, 2025 and 2024

(Expressed
in Canadian dollars)

The
total intrinsic value of Options exercised for the nine months ended September 30, 2025, was $30,996 (year ended December 31, 2024 - $149,405).

During
the nine months ended September 30, 2025, the Company granted an aggregate of 299,000 Options to employees, directors, officers and consultants
with a term of five years. The Options have a weighted average exercise price of $9.99 per Common Share. Of the 299,000 Options granted,
287,500 vest as to one-half on the date of grant and the balance on the first anniversary of the date of grant, 7,000 vested immediately
on the date of grant, and 4,500 vest annually in equal thirds beginning on the date of grant.

For
the three and nine months ended September 30, 2025, a total of $287,499 (three months ended September 30, 2024 - $933,619) and $1,665,111
(nine months ended September 30, 2024 – $1,712,843), respectively,