Company: PRMLF
Filing Date: 2025-11-13
Form Type: 10-Q
Source: 0001493152-25-022391
Chunk: 37

Company: NexMetals Mining Corp.
Filing Date: 2025-11-13
Form: 10-Q
Item: Item 1
Chunk 37
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 18, 2028 
     8.00  
     - 
  
     9,428,996  
     9,428,996  

     - 

    c)
    Omnibus Plan

During
the second quarter of 2025, the Company adopted a new “rolling up to 10%” long-term omnibus incentive plan (the “Omnibus
Plan”) which replaces the Company’s existing stock option plan, restricted share unit plan, and deferred share unit plan.

The
Omnibus Plan provides for the award of Restricted Share Units (“RSUs”), Deferred Share Units (“DSUs”)
and options to purchase Common Shares (“Options” and together with RSUs and DSUs, “Awards”) to
directors, officers, employees and consultants upon approval by the Board of Directors. The maximum aggregate number of Common Shares
issuable in respect of all past and future Awards granted or issued, at any point, shall not exceed 10% of the total number of issued
and outstanding Common Shares on a non-diluted basis at such point in time, subject to certain participation limits on grants. No Award
granted or issued under the Omnibus Plan, other than Options, may vest before the date that is one year following the date it is granted
or issued.

Options

An
Option is an Award that gives a participant the right to purchase one Common Share at a specified price. The exercise price of each Option
shall not be less than the discounted market price on the grant date and as approved by the Board of Directors of the Company. The Options
can be granted for a maximum term of ten years.

The
following summarizes the Option activity:

SCHEDULE
OF OPTION ACTIVITY

    Nine months ended  
    Year ended 

    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