Company: PRMLF
Filing Date: 2025-06-23
Form Type: 8-K
Source: 0001641172-25-016143
Chunk: 0

Company: NexMetals Mining Corp.
Filing Date: 2025-06-23
Form: 8-K
Item: Item 5.02
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Item 5.02

Departure of Directors or Certain Offices; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

On
June 16, 2025, NexMetals Mining Corp. (the “ Company

Effective
the same day, the Company appointed Brett MacKay as Senior Vice President and Chief Financial Officer. Mr. MacKay previously served as
Vice President, Finance of the Company since October 2024.

Mr.
MacKay, age 39, has over 17 years of experience in the resource sector. Prior to joining the Company, he held progressively senior financial
roles in reporting and business planning at Lundin Mining Corporation, where he supported the organization through a period of substantial
growth, including several strategic acquisitions. Prior to joining Lundin Mining in 2013, Mr. MacKay held roles at EY serving mining
sector clients in both assurance and tax practices. Mr. MacKay holds a Bachelor of Commerce (Honours) degree with Distinction from McMaster
University and is a Chartered Professional Accountant (CPA, CA) in Ontario.

In
connection with his appointment, the Company entered into an employment agreement with Mr. MacKay (the “ MacKay
Employment Agreement”). The MacKay Employment Agreement provides that Mr. MacKay is entitled to receive an annual base salary of
CDN $300,000.00 (the “ Base Salary”). The MacKay Employment Agreement provides that Mr. MacKay is eligible for an annual
cash incentive award (the “ Performance Bonus”) determined based upon on objective targets, to earn a target annual bonus
in the range of 50% of the Base Salary of the Executive for the year in question. The Performance Bonus shall be payable in cash or restricted
stock units (“ RSUs”) at the discretion of the Board to be issued by the Company consistent with the Company’s omnibus
plan (the “ Omnibus Plan”), with the RSUs being fully vested one year from the date of grant. In addition, Mr. MacKay
is eligible to receive an annual long-term incentive award, based on objective targets, to earn a target annual bonus in the range of
90% of the Base Salary for the year in question. The long-term incentive compensation shall be payable in cash or RSUs at the discretion
of the Board to be issued by the Company consistent with the Omnibus Plan, with the RSUs being fully vested one year from the date of
grant.

Mr.