NexMetals Appoints David Eichenberg as Vice President, Geology and Grants Equity Incentive Awards

NexMetals (TSXV: NEXM; NASDAQ: NEXM) appointed David Eichenberg as Vice President, Geology, effective immediately, adding 28 years of global geoscience and mine technical leadership.

Rhea-AI Summary

NexMetals (TSXV: NEXM; NASDAQ: NEXM) appointed David Eichenberg as Vice President, Geology, effective immediately, adding 28 years of global geoscience and mine technical leadership.

The board also granted 134,300 RSUs (deemed price C$5.80) with staged vesting and 50,000 stock options at an exercise price of C$8.00, vesting immediately with a two-year term.

Argus Feb 2 session

-7.36% close to close Open Argus

Details

News Market Reaction – NEXM

On Feb 2, the day this news came out, NEXM closed 7.36% below the previous close.

Data tracked by StockTitan Argus for the Feb 2 session.

Market Context

On Feb 2, the day this news came out, the stock closed 7.4% below the previous close. A negative rea...

Analysis

On Feb 2, the day this news came out, the stock closed 7.4% below the previous close. A negative reaction despite a management hire and routine equity incentives fits prior instances where governance news coincided with modest declines. The announcement adds a seasoned geoscientist and grants 134,300 RSUs plus 50,000 options at a $5.80 reference price and C$8.00 strike, which may raise dilution concerns. Historical financing and warrant activity could also influence sentiment toward incremental stock-based compensation.

Key Figures

Share price: $3.94 RSUs granted: 134,300 RSUs RSUs vest year 1: 47,800 RSUs +5 more

Share price

$3.94

Pre-news price, 24h change -10.45%

RSUs granted

134,300 RSUs

Equity incentive awards to officers, employees and consultants

RSUs vest year 1

47,800 RSUs

Vest on first anniversary of grant date

RSUs vest years 2-3

86,500 RSUs

Half vest on second, half on third anniversary

RSU grant price

$5.80

Deemed 10-day VWAP on TSXV as of Jan 27, 2026

Stock options granted

50,000 options

Granted to certain consultants under Omnibus Plan

Option exercise price

C$8.00

Exercise price per share, two-year term, immediate vesting

Option term

2 years

From date of grant for consultant stock options

Historical Context

5 past events · Latest: Jan 27

5 events

1. Jan 27

   Drill results Selebi North

   24h Move

   +2.6%

   Strong CuEq intercepts supporting high-grade continuity and future MRE update.

2. Jan 20

   Drill results Selebi Main

   24h Move

   +2.5%

   New massive sulphide intercepts and BHEM anomaly highlighting growth potential.

3. Jan 15

   Work program & CEO change

   24h Move

   -1.7%

   Outlined 2026 programs and accelerated CEO transition for Selebi and Selkirk.

4. Jan 08

   Board appointment

   24h Move

   -1.0%

   Added experienced former Kinross COO to board and new technical committee.

5. Dec 18

   Warrant listing

   24h Move

   -2.7%

   Listing of 14,035,100 warrants from prior $80M unit offering at $8.00 strike.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Key Terms

restricted share units, stock options, volume weighted average price, Omnibus Equity Incentive Plan

4 terms

restricted share units financial

"The Board of Directors has approved the grant of restricted share units ("RSUs")..."

Restricted share units (RSUs) are a promise from a company to give an employee or service provider actual shares or cash equal to the shares after certain conditions are met, typically staying with the company for a set time or hitting performance targets. Think of them like a time-locked gift card that becomes usable only after you’ve earned it. For investors, RSUs matter because they align employee incentives with company performance and can increase the number of shares outstanding over time, diluting existing ownership and affecting earnings per share.

stock options financial

"The Company has also granted 50,000 stock options of the Company ("Options")..."

Stock options are agreements that give a person the right to buy or sell a company's stock at a specific price within a certain time frame. They are often used as a reward or incentive, similar to a coupon that can be used later if the stock price rises, allowing the holder to make a profit.

volume weighted average price financial

"at a deemed price of $5.80, representing the 10-Day volume weighted average price..."

The volume weighted average price (VWAP) is a way to measure the average price of a security, such as a stock, over a specific period, taking into account how many units were traded at each price. It’s similar to calculating the average cost of items bought when some are more frequently purchased than others. Investors use VWAP to assess whether a security is being bought or sold at a fair price during trading.

Omnibus Equity Incentive Plan financial

"pursuant to the Company's Omnibus Equity Incentive Plan (the "Plan")."

A single, company-wide plan that lets a business grant different kinds of stock-based pay — such as stock options, shares that vest over time, or other equity awards — to employees, directors and consultants. It matters to investors because it determines how much of the company can be paid out in shares, how quickly those shares enter the market, and how well employees are motivated to grow the business; think of it as a toolbox or menu for paying with ownership stakes that can dilute existing holders and affect company performance.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Vancouver, British Columbia--(Newsfile Corp. - February 2, 2026) - NexMetals Mining Corp. (TSXV: NEXM) (NASDAQ: NEXM) ("NEXM" or the "Company") is pleased to announce that it has appointed Mr. David Eichenberg as Vice President, Geology, effective immediately. The Company also announces that it has granted equity incentive awards to certain officers, employees and consultants pursuant to the Company's Omnibus Equity Incentive Plan (the "Plan").

Mr. Eichenberg is a veteran Geoscientist and leader with 28 years of global experience in mining, study-level projects, exploration and project generative roles. He began his career with DeBeers and held senior technical leadership roles with Rio Tinto. Most notably, he served as Chief Geoscientist and Qualified Person at the Diavik Mine, where he led technical operations with care and controlled the resource through multiple open-pit and underground mine developments. David's extensive international portfolio spans Canada, Democratic Republic of Congo, Zimbabwe, Namibia, Botswana, South Africa, and Madagascar, where he generated targets and led exploration projects focused on copper, nickel, diamonds, uranium, heavy minerals, and iron ore. He is recognized for building high performing technical teams to deliver the critical data needed to advance projects and support mine operations. Throughout his career, David has remained committed to technical and safe operational excellence while delivering the quality data and clarity needed for organizations to make next-step decisions.

Sean Whiteford, CEO of the Company, commented: "David brings deep technical expertise and operational experience across both exploration and producing assets. His track record of building disciplined geological teams and advancing projects with high quality data aligns directly with our strategy as we continue to derisk these assets. We are very pleased to welcome him to NexMetals."

Equity Incentive Grants

The Board of Directors has approved the grant of restricted share units ("RSUs") representing an aggregate of 134,300 common shares to certain officers, employees and consultants. Of this amount, 47,800 RSUs will vest on the first anniversary of the date of grant. The remaining 86,500 RSUs will vest as to one half on the second anniversary of the date of grant and one half on the third anniversary of the date of grant. The RSUs were granted at a deemed price of $5.80, representing the 10-Day volume weighted average price of the Company's shares on the TSX Venture Exchange as of January 27, 2026.

The Company has also granted 50,000 stock options of the Company ("Options") to certain consultants pursuant to the Plan. The Options have an exercise price of C$8.00 per share, vest immediately, and have a two-year term from the date of grant.

About NexMetals Mining Corp.

NexMetals Mining Corp. is a TSX.V and NASDAQ listed mineral exploration and development company focused on redeveloping the past-producing Selebi and Selkirk copper-nickel-cobalt-platinum group element mines in Botswana. NexMetals has confirmed the scale of mineralization is larger than historical estimates, supported by NI 43-101-compliant resource estimates, with ongoing down-hole geophysics, drilling, and metallurgical programs aimed at expanding resources and supporting future economic studies. The Company is led by an experienced management and technical team with a proven track record in global mineral projects, emphasizing disciplined execution, transparent governance, and long-term stakeholder value creation.

For further information about NexMetals Mining Corp., please contact:

Sean Whiteford
CEO
swhiteford@nexmetalsmining.com

Jaclyn Ruptash
V.P., Communications and Investor Relations
jaclyn@nexmetalsmining.com
1-833-770-4334

Follow Us

X: https://x.com/NexMetalsCorp
LinkedIn: https://www.linkedin.com/company/NexMetalsMiningCorp
Facebook: https://www.facebook.com/NexMetalsMiningCorp

Neither the TSX Venture Exchange and its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) nor the Nasdaq Stock Market LLC accepts responsibility for the adequacy or accuracy of this news release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/282345

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

Who is David Eichenberg and what does his appointment as VP, Geology mean for NexMetals (NEXM)?

He is a 28-year veteran geoscientist with major mine experience; his hire strengthens technical leadership. According to the company, his background at DeBeers and Rio Tinto and mine-level roles is intended to advance project derisking and team capability.

What RSUs did NexMetals (NEXM) grant on February 2, 2026 and what are the vesting terms?

The board granted 134,300 RSUs with staged vesting over three years. According to the company, 47,800 RSUs vest after one year, and the remaining 86,500 vest half on year two and half on year three.

What are the details of the stock options NexMetals (NEXM) granted and their exercise price?

NexMetals granted 50,000 options to consultants with an exercise price of C$8.00 per share. According to the company, these options vest immediately and expire two years from the grant date.

At what price were the RSUs at NexMetals (NEXM) deemed to be granted and how was that price determined?

The RSUs were granted at a deemed price of C$5.80 per share. According to the company, that represents the 10-day volume-weighted average price on the TSX Venture Exchange as of January 27, 2026.

When did David Eichenberg’s role as VP, Geology at NexMetals (NEXM) become effective?

His appointment is effective immediately as of February 2, 2026. According to the company, he joins to lead geology and support project advancement and technical team building across the portfolio.

How might the NexMetals (NEXM) equity grants affect existing shareholders in the near term?

The grants increase potential share-based dilution depending on future settlement or exercise. According to the company, 134,300 RSUs and 50,000 options were issued, with staged vesting and a two-year option term, respectively.