Company: PRMLF
Filing Date: 2025-03-20
Form Type: 10-K
Source: 0001641172-25-000043
Chunk: 8

Company: NexMetals Mining Corp.
Filing Date: 2025-03-20
Form: 10-K
Item: Item 1A
Chunk 8
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 regulations currently applicable to it.

Changes in tax legislation or accounting rules could affect the profitability
of the Company

Changes
to, or differing interpretation of, taxation laws in Canada, Barbados, Botswana, or any of the countries in which the Company’s
assets or relevant contracting parties are located, could result in some or all of the Company’s profits being subject to additional
taxation. New taxation rules or accounting policies enacted could result in the Company’s profits being subject to additional taxation
and could have a material adverse effect on the Company’s profitability, results of operations, financial condition and the trading
price of the Company’s securities. In addition, the introduction of new tax rules or accounting policies, or changes to, or differing
interpretations of, or application of, existing tax rules or accounting policies could make acquiring additional resource properties
by the Company less attractive to counterparties. Such changes could adversely affect the Company’s ability to acquire new assets
or make future investments.

-9-

VII. EMERGING MARKETS RISKS

Operations in emerging markets

The
Company has its material properties and operating subsidiaries in Botswana. It is possible that operating in Botswana may expose the
Company to a certain degree of political, economic and other risks and uncertainties. In conducting its operations in Botswana, the Company
has, among other things: (i) engaged and maintained experienced management and technical teams located in Botswana and/or with extensive
experience in operating properties in Africa; (ii) certain members of the Board of Directors and management routinely visit the Company’s
Botswana properties; (iii) retained advisors and technical experts in Botswana including its local counsel, Bookbinder Business Law (“Bookbinder”);
and (iv) generally maintained robust internal control over its foreign subsidiaries, all of which are more particularly described below.

Subsidiaries
and operations in Botswana

The
Company’s principal business activity in Botswana is the re-development of the Mines.

The
establishment and development of PNGPL and PNRPL, each of which is a Botswanan entity, adds an additional regulatory framework within
which the Company operates and is supplementary to the regulatory framework existing in Canada. The Company holds its interest in the
Selebi Mines and the Selkirk Mine indirectly through its 100% owned subsidiaries PNRPL and PNGPL, respectively.

The
Company’s operating entities in Botswana are governed in accordance with applicable local laws and entity-wide governance principles.
The directors and management