8-K
Paramount Gold Nevada Corp. (PZG)
UNITED STATESSECURITIES AND EXCHANGE COMMISSIONWASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
| Date of Report (Date of earliest event reported): April 03, 2023 |
|---|
Paramount Gold Nevada Corp.
(Exact name of Registrant as Specified in Its Charter)
| Nevada | 001-36908 | 98-0138393 |
|---|---|---|
| (State or Other Jurisdiction<br>of Incorporation) | (Commission File Number) | (IRS Employer<br>Identification No.) |
| 665 Anderson Street | ||
| Winnemucca, Nevada | 89445 | |
| (Address of Principal Executive Offices) | (Zip Code) | |
| Registrant’s Telephone Number, Including Area Code: 775 625-3600 | ||
| --- |
(Former Name or Former Address, if Changed Since Last Report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
☐Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Securities registered pursuant to Section 12(b) of the Act:
| Title of each class | Trading<br>Symbol(s) | Name of each exchange on which registered |
|---|---|---|
| Common Stock, $0.01 Par Value Per Share | PZG | NYSE American LLC |
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On April 3, 2023, Paramount Gold Nevada Corp. (the “Company”) entered into an Amended Employment Agreement with Rachel Goldman, its current CEO, providing for an increase in annual base salary to $220,000.
On April 3, 2023, Paramount Gold Nevada Corp. (the “Company”) entered into an Amended Employment Agreement with Glen Van Treek, its current President and Chief Operating Officer, providing for an increase in annual base salary to $210,000.
The foregoing description of the material terms of the foregoing amended employment agreements does not purport to be complete and is qualified in its entirety by reference to the relevant exhibits. A copy of the Amended Employment Agreements for Ms. Goldman and Mr. Van Treek are attached as Exhibits 10.1 and 10.2 respectively.
Item 9.01 Financial Statements and Exhibits.
| Exhibit<br><br>Number | Description |
|---|---|
| 10.1 | Amended Employment Agreement Rachel Goldman dated April 3, 2023 |
| 10.2 | Amended Employment Agreement Glen Van Treek dated April 3, 2023 |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document). |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| PARAMOUNT GOLD NEVADA CORP. | |||
|---|---|---|---|
| Date: | April 4, 2023 | By: | /s/ Carlo Buffone |
| Carlo Buffone<br>Chief Financial Officer |
EX-10
Exhibit 10.1
AMENDMENT NO. 1 TO EMPLOYMENT AGREEMENT
THIS AMENDMENT NO. 1 TO EMPLOYMENT AGREEMENT (this “Amendment”) is dated for reference April 3, 2023.
BETWEEN:
PARAMOUNT GOLD NEVADA CORP.,
a Corporation formed under the laws of the State of Nevada, USA (the “Corporation”)
OF THE FIRST PART
AND:
Rachel Goldman
of the City of Montreal, Quebec, (the “Employee”)
OF THE SECOND PART
(hereinafter collectively referred to as the “Parties”)
WHEREAS:
A. The parties hereto are parties to that certain Employment Agreement dated for reference February 6, 2020 (the “Employment Agreement”).
B. The Parties now desire to amend the Employment Agreement in certain particulars.
C. Capitalized terms used but not defined herein shall have the meaning given to them in the Employment Agreement.
NOW, THEREFORE, in the consideration of, and in reliance on, the premises, representations, warranties, covenants and agreements set forth in this Amendment, the parties hereto hereby agree as follows:
- Amendment
Section 3.1(a) of the Employment Agreement shall hereby be deleted in its entirety and replaced with the following:
“The monthly fees payable to the Employee for her services hereunder shall be Eighteen Thousand Three Hundred Thirty-Three and 33/100 ($18,333.33 USD) dollars per month being Two Hundred Twenty Dollars ($220,000 USD) per year, retroactive to and commencing on February 24, 2023, exclusive of bonuses, benefits and other compensation and subject to annual review and increase as determined by the Employee and the Corporation acting reasonably.”
- Further Assurance
Each of the parties to this Amendment shall from time to time and at all times do all such further acts and execute and deliver all further deeds and documents as shall be reasonably required in order fully to perform and carry out the true meaning and intent of the Employment Agreement, as amended by this Amendment.
- Entire Agreement
The parties hereto acknowledge that they have expressed in the Employment Agreement, as amended by this Amendment, the entire understanding and obligation of the Employment Agreement, as amended by this Amendment, and it is expressly understood and agreed that no implied covenant, condition, term or reservation, shall be read into the Employment Agreement, as amended by this Amendment, relating to or concerning any matter or operation provided for therein or herein.
- Counterparts
This Amendment may be executed in several counterparts (including by facsimile), each of which when so executed shall be deemed to be an original and shall have the same force and effects as an original, such counterparts together shall constitute one and the same instrument.
(balance of this page deliberately left empty)
IN WITNESS WHEREOF the parties hereto have duly executed this Amendment effective as of the date first above written.
PARAMOUNT GOLD NEVADA CORP.
/s/ Rudi Fronk
Name: Rudi Fronk
Title: Chairman of the Board and Chairman of the Compensation Committee
RACHEL GOLDMAN
/s/ Rachel Goldman
EX-10
Exhibit 10.2
AMENDMENT NO. 2 TO EMPLOYMENT AGREEMENT
THIS AMENDMENT NO. 2 TO EMPLOYMENT AGREEMENT (this “Amendment”) is dated for reference April 3, 2023.
BETWEEN:
PARAMOUNT GOLD NEVADA CORP.,
a Corporation formed under the laws of the State of Nevada, USA (the “Corporation”)
OF THE FIRST PART
AND:
Glen Van Treek
of the City of Santiago, Chile, (the “Employee”)
OF THE SECOND PART
(hereinafter collectively referred to as the “Parties”)
WHEREAS:
A. The parties hereto are parties to that certain Employment Agreement dated for reference October 26, 2015 (as amended, the “Employment Agreement”).
B. The Parties now desire to amend the Employment Agreement in certain particulars.
C. Capitalized terms used but not defined herein shall have the meaning given to them in the Employment Agreement.
NOW, THEREFORE, in the consideration of, and in reliance on, the premises, representations, warranties, covenants and agreements set forth in this Amendment, the parties hereto hereby agree as follows:
- Amendment
Section 3.1(a) of the Employment Agreement shall hereby be deleted in its entirety and replaced with the following:“The monthly fees payable to the Employee for his services hereunder shall be Seventeen Thousand Five Hundred ($17,500 USD) dollars per month being Two Hundred Ten Thousand Dollars ($210,000 USD) per year, retroactive to and commencing on February 24, 2023, exclusive of bonuses, benefits and other compensation and subject to annual review and increase as determined by the Employee and the Corporation acting reasonably.”
- Further Assurance
Each of the parties to this Amendment shall from time to time and at all times do all such further acts and execute and deliver all further deeds and documents as shall be reasonably required in order fully to perform and carry out the true meaning and intent of the Employment Agreement, as amended by this Amendment.
- Entire Agreement
The parties hereto acknowledge that they have expressed in the Employment Agreement, as amended by this Amendment, the entire understanding and obligation of the Employment Agreement, as amended by this Amendment, and it is expressly understood and agreed that no implied covenant, condition, term or reservation, shall be read into the Employment Agreement, as amended by this Amendment, relating to or concerning any matter or operation provided for therein or herein.
- Counterparts
This Amendment may be executed in several counterparts (including by facsimile), each of which when so executed shall be deemed to be an original and shall have the same force and effects as an original, such counterparts together shall constitute one and the same instrument.
(balance of this page deliberately left empty)
IN WITNESS WHEREOF the parties hereto have duly executed this Amendment effective as of the date first above written.
PARAMOUNT GOLD NEVADA CORP.
/s/ Rudi Fronk
Name: Rudi Fronk
Title: Chairman of the Board and Chairman of the Compensation Committee
GLEN VAN TREEK
/s/ Glen Van Treek