Company: PRMLF
Filing Date: 2025-03-20
Form Type: 10-K
Source: 0001641172-25-000043
Chunk: 260

Company: NexMetals Mining Corp.
Filing Date: 2025-03-20
Form: 10-K
Item: Item 1B
Chunk 260
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,753 DSUs.
  
    (11)
    As
    at December 31, 2024, Mr. Christensen held 70,822 Options exercisable for 70,822 Common Shares, and 250,228 DSUs.
  
    (12)
    Mr.
    MacDonald was appointed to the Board on June 24, 2024. As at December 31, 2024, Mr. MacDonald held 30,000 Options exercisable for
    30,000 Common Shares, and 93,984 DSUs.
  
    (13)
    As
    at December 31, 2024, Mr. Newberry held 130,000 Options exercisable for 130,000 Common Shares, and 386,697 DSUs.
  
    (14)
    As
    at December 31, 2024, Mr. O’Reilly held 130,000 Options exercisable for 130,000 Common Shares, and 390,029 DSUs.
  
    (15)
    The
    options granted on December 4, 2024, vested in full on the date of grant.

Exercise
of Compensation Securities

No
executive officers or directors of the Company exercised compensation securities during the financial year ended December 31, 2024.

Option
Plans and Other Incentive Plans

Option
Plan

The
Company’s option plan (the “Option Plan”), as amended, is a “fixed” share option plan,
pursuant to which PREM may issue up to 27,100,000 Options to eligible persons (as defined below), provided that the number of Common
Shares reserved for issuance from treasury under the Option 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, 19,066,321 Options have been granted and 15,586,771 Options are outstanding under the Option
Plan. The Option Plan was approved by the Company’s shareholders on September 20, 2023.

Options
under the Option Plan may be granted by the Board to “eligible persons”, who are directors, officers, employees or
consultants of PREM or its subsidiaries, eligible persons who are employees of a company providing management services to PREM, or, in
certain circumstances, charitable organizations. Options granted under the Option Plan have a maximum