Company: PRMLF
Filing Date: 2025-03-20
Form Type: 10-K
Source: 0001641172-25-000043
Chunk: 617

Company: NexMetals Mining Corp.
Filing Date: 2025-03-20
Form: 10-K
Item: Item 9A
Chunk 617
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 efforts on behalf
of the Company.

Eligibility

Each
director of the Company in office on December 26, 2022, being the effective date of the DSU Plan (the “Effective Date”),
became a member of the DSU Plan (“DSUP Member”). Each person who becomes a director at any time subsequent to the
Effective Date shall thereupon, without further or other formality, become a member of the DSU Plan. For greater certainty, no investor
relations service providers may receive any DSUs under the DSU Plan in their capacity as an Investor Relations Service Provider.

Share
Limits and DSU Market Price

The
aggregate number of Common Shares made available for issuance from treasury under the DSU Plan shall not exceed 5,000,000 Common Shares,
provided that the number of Common Shares reserved for issuance from treasury under the DSU Plan and all other security-based compensation
arrangements of the Company and its subsidiaries shall not, in the aggregate, exceed 20% of the number of Common Shares then issued and
outstanding. As of December 31, 2024, 2,164,744 DSUs have been granted under the DSU Plan.

Each
DSU will have a notional value equal, on any particular date, to the volume weighted average trading price of the Common Shares for the
five (5) consecutive trading days prior to such date (“DSU Market Price”).

-46-

Granting
Restrictions

The
grant of DSUs under the DSU Plan is subject to a number of restrictions:

(a)the
                                            aggregate number of Common Shares issuable at any time to Insiders (as defined in the DSU Plan)
                                            under the DSU Plan and all other security-based compensation arrangements of the Company
                                            and its subsidiaries shall not, in the aggregate, exceed 10% of the issued and outstanding
                                            Common Shares, calculated on a non-diluted basis (unless disinterested shareholder approval
                                            is obtained pursuant to the Corporate Finance Manual of the TSXV);

(b)within
                                            any one-year period, the Company shall not issue to Insiders under the DSU Plan and all other
                                            security-based compensation arrangements of the Company and its subsidiaries, in the aggregate,
                                            a number of Common Shares exceeding 10% of the issued and outstanding Common Shares, calculated
                                            on a non-diluted basis (unless disinterested shareholder approval is obtained pursuant to
                                            the Corporate Finance Manual of the