Company: AXREF
Filing Date: 2025-07-28
Form Type: 20-F
Source: 0001654954-25-008549
Chunk: 55

Company: AMARC RESOURCES LTD
Filing Date: 2025-07-28
Form: 20-F
Item: Item 7
Chunk 55
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 the Company’s other Security Based Compens...  
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  The Company is required to obtain Disinterested Shareholder Approval prior to any of the following actions becoming effective:                                                                        

  The New Plan, together with all of the Company’s previous Share Compensation Arrangements (as defined in the New Plan), could result at any time in:  

  Common Shares being issuable to Insiders under the New Plan, when combined with all of the Company’s other Security Based Compensation Plans, exceeding 10% of the Outstanding Shares;                
  Common Shares being issuable to Insiders under the New Plan, when combined with all of the Company’s other Security Based Compensation Plans, exceeding 10% of the Outstanding Shares in any 12 m...  

  ii.       the issuance of an aggregate number of Common Shares issuable pursuant to Security Based Compensation granted or issued within any 12 month period to any one Participant exceeding 5% of the Out...  
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  iii.      a reduction in the exercise price of an Option granted hereunder to an Insider or an extension of the term of an Option granted hereunder benefiting an Insider; and                                  
  iv.       any amendments that will increase the Company’s ability to amend the New Plan without shareholder approval or any other amendment to an Option that would provide any benefit to an Insider of th...  

  (l)      A black-out period will be in place during which a restriction has been formally imposed by the Company, pursuant to its internal trading policies as a result of the bona fide existence of undi...  
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Material Changes to the New Plan to conform with TSX Venture Exchange updated Policy 4.4 - Security Based Compensation (“ Policy 4.4”)

The New Plan now includes the following:

  (a)      the addition of certain definitions in the New Plan in accordance with Policy 4.4 definitions;                                                                                                        
  (b)      disinterested shareholder approval of any extensions to stock options granted to individuals that are Insiders at the time of the proposed amendment as set out in Section 4.12(c) Policy 4.