Company: PRMLF
Filing Date: 2025-03-20
Form Type: 10-K
Source: 0001641172-25-000043
Chunk: 93

Company: NexMetals Mining Corp.
Filing Date: 2025-03-20
Form: 10-K
Item: Item 1A
Chunk 93
---
 1.05  
     3,833,277  
     1.75 
  
    Exercised 
     (278,100) 
     (0.86) 
     (488,900) 
     (0.49)
  
    Cancelled 
     (1,033,050) 
     (2.01) 
     (263,500) 
     (2.40)
  
    Outstanding, end of the period 
     15,586,771  
     1.28  
     13,487,921  
     1.39 

The
total intrinsic value of options exercised for the year ended December 31, 2024, was $149,405 (2023 - $522,635).

During
the year ended December 31, 2024, the Company granted an aggregate of 3,410,000 stock options to employees, directors, officers and consultants
with a term of five years. The options have a weighted average exercise price of $1.05 per Common Share, with 3,235,000 vesting annually
in equal thirds beginning on the date of grant, and 175,000 vesting immediately on the date of grant. 

During
the year ended December 31, 2023, the Company granted an aggregate of 3,833,277 stock options to employees, directors, officers and consultants
with a term of five years. The options have an exercise price of $1.75 per Common Share and vest annually in equal thirds beginning on
the first anniversary of the date of grant. 

For
the year ended December 31, 2024, a total of $1,881,417 (2023 – $657,138) was recorded as share-based compensation expense and
credited to additional paid-in capital related to the Option Plan. 

The
fair value of stock options granted was calculated using the Black-Scholes Option Pricing Model. The volatility is determined using the
historical daily volatility over the expected life of the options. The expected life of the options considers the contractual term of
the options, as well as an estimate of the time to exercise. The Black-Scholes Option Pricing Model used the following assumptions:

SCHEDULE
OF FAIR VALUE OF STOCK OPTION GRANTED

    Year ended December 31, 

    2024  
    2023 
  
    Expected dividend yield