Company: LINMF
Filing Date: 2025-08-01
Form Type: 20-F
Source: 0001176256-25-000065
Chunk: 46

Company: Linear Minerals Corp
Filing Date: 2025-08-01
Form: 20-F
Item: Item 5
Chunk 46
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 on April 25, 2026.

During the year ended March 31, 2024, the Company granted 2,000,000 incentive stock options to directors, officers and consultants and all of which vested at the date of grant. The options are exercisable at $0.59 per share, expiring on June 4, 2028.

During the year ended March 31, 2023, the Company did not grant any stock options.

Restricted Share Units

During the year ended March 31, 2025, the Company did not issue any restricted share units (“RSU”).

During the year ended March 31, 2024, pursuant to the Company’s restricted share unit plan, the Company issued 550,000 RSUs on May 26, 2023, vesting immediately and issued 875,000 RSU’s vesting on grant date of September 22, 2023. The Company issued the RSUs to directors, officers and consultants.

During the year ended March 31, 2023, pursuant to the Company’s restricted share unit plan, the Company issued 3,650,000 RSU’s vesting on grant date March 31, 2023. The Company issued the RSUs to directors, officers and consultants.

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Financing Activities

The Company estimates that it will require additional financing to carry out its exploration plans and operations through the next twelve months. This could involve joint venture, equity financing, or other forms of financing.
Going Concern

At March 31, 2025, the Company has working capital of $311,693. Management estimates that these funds will not be sufficient to provide the Company with the financial resources to carry out currently planned exploration and operations through the next twelve months. Therefore, the Company will need to seek additional sources of financing to meet all exploration expenditures for its property commitments as well its ongoing operations. While the Company was successful in obtaining its most recent financing, there is no assurance that it will be able to obtain adequate financing in the future or that such financing will be on terms acceptable to the Company. These material uncertainties may cast significant doubt upon the Company’s ability to continue as a going concern.

The financial statements do not include any adjustments to the recoverability and classification of recorded assets, or the amounts of, and classification of liabilities that would be necessary if the going concern assumption were not appropriate. Such adjustments could be material.

Plans for Fiscal 2025

The Board of Directors has and will continue the review