NexMetals (NEXM) sets new consulting terms for COO services with ANZAC
Filing Impact
Filing Sentiment
Form Type
8-K
Rhea-AI Filing Summary
NexMetals Mining Corp., through its wholly owned subsidiary Premium Resources International Ltd. (PRIL), has entered into a new Services & Consulting Agreement with ANZAC Consulting Ltd. dated June 15, 2026. ANZAC provides the services of Boris Kamstra, who serves as Chief Operating Officer of PRIL.
Under the agreement, ANZAC will be paid an hourly consulting fee of US$230, billed monthly in arrears, plus reimbursement of approved expenses. PRIL will also cover reasonable accommodation in Botswana when work requires travel, provide business class air travel for flights over four hours, and bear any Barbados withholding tax related to payments to ANZAC.
Either party may terminate on 90 days’ written notice, with ANZAC entitled to accrued fees and expenses to the termination date. The agreement does not include change-of-control, severance, or constructive dismissal benefits, indicating a straightforward consulting structure for the COO’s services.
Positive
- None.
Negative
- None.
8-K Event Classification
Item 5.02 — Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers
1 item
Item 5.02
Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers
Governance
Key personnel changes including departures, elections, or appointments of directors and executive officers.
Key Figures
Consulting fee: US$230 per hour
Agreement date: June 15, 2026
Prior agreement start: January 1, 2023
+2 more
5 metrics
Consulting fee
US$230 per hour
Hourly consulting fee payable to ANZAC, monthly in arrears
Agreement date
June 15, 2026
Date of new Services & Consulting Agreement between PRIL and ANZAC
Prior agreement start
January 1, 2023
Original Services & Consulting Agreement now replaced
Prior amendment date
July 1, 2025
Amendment date of earlier agreement superseded by new contract
Termination notice period
90 days
Notice required for termination by either PRIL or ANZAC
Key Terms
Services & Consulting Agreement, withholding tax, change-of-control, constructive dismissal
4 terms
Services & Consulting Agreement financial
"entered into a Services & Consulting Agreement (the “Consulting Agreement”) with ANZAC Consulting Ltd."
withholding tax financial
"PRIL will also bear any Barbados withholding tax (including related interest, penalties and litigation costs)"
Withholding tax is a government-required portion of a payment—such as dividends, interest, or salary—that the payer keeps back and sends directly to tax authorities before the recipient receives the money. For investors it reduces the cash they actually get and changes the after-tax return on an investment; rates and refund or credit rules vary by country and can materially affect comparisons between similar investments, like a cashier holding part of a bill to cover taxes.
change-of-control financial
"The agreement does not provide for any change-of-control, severance, or constructive dismissal benefits."
A change-of-control is when ownership or effective control of a company shifts—for example through a sale, merger, acquisition, or transfer of voting power. It matters to investors because such a change can activate contract provisions (like early loan repayment, accelerated stock vesting, or severance pay), replace management and strategy, and quickly change the stock’s risk and value; think of it as a new captain taking the helm and steering the ship in a different direction.
constructive dismissal financial
"The agreement does not provide for any change-of-control, severance, or constructive dismissal benefits."
FAQ
What consulting arrangement did NexMetals (NEXM) approve for its COO?
NexMetals, via PRIL, signed a new Services & Consulting Agreement with ANZAC Consulting Ltd. for COO Boris Kamstra’s services. ANZAC will provide site operational support and assistance with study work under defined hourly fees and reimbursable expenses.
How is ANZAC Consulting Ltd. compensated under the NexMetals (NEXM) agreement?
ANZAC receives an hourly consulting fee of US$230, paid monthly in arrears. PRIL also reimburses approved expenses, covers reasonable board and lodging in Botswana when required, and provides business class air travel for flights over four hours.
What are the termination terms in NexMetals’ (NEXM) new consulting agreement?
Either PRIL or ANZAC may terminate the agreement on 90 days’ written notice. On termination, ANZAC is entitled to accrued and unpaid consulting fees and reimbursement of out-of-pocket expenses up to the effective termination date.
Does the NexMetals (NEXM) consulting agreement include severance or change-of-control benefits?
No, the agreement does not provide change-of-control, severance, or constructive dismissal benefits. Compensation is limited to the hourly consulting fee, expense reimbursement, and payments of amounts accrued up to any termination date under the contract.
What additional costs does PRIL assume in the NexMetals (NEXM) consulting arrangement?
PRIL covers travel, lodging, and certain tax-related obligations for ANZAC’s services. This includes reasonable board and lodging in Botswana, business class air travel over four hours, required work permits, and any Barbados withholding tax, including related interest, penalties, and litigation costs.