Company: PRMLF
Filing Date: 2025-03-20
Form Type: 10-K
Source: 0001641172-25-000043
Chunk: 124

Company: NexMetals Mining Corp.
Filing Date: 2025-03-20
Form: 10-K
Item: Item 1A
Chunk 124
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DSU Plan”) was adopted by the Board on December 26, 2022 and approved by
the Company’s shareholders on September 20, 2023. The DSU Plan enables the Company, upon approval by the Board, to grant deferred share units
to eligible non-management directors.

Purpose

The
purpose of the DSU Plan is to advance the interests of the Company and its subsidiaries by: (i) increasing the proprietary interests
of non-executive directors in the Company; (ii) aligning the interests of non-executive directors of the Company with the interests of
the Company’s shareholders generally; and (iii) furnishing non-executive directors with an additional incentive in their 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”).

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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