Company: PRMLF
Filing Date: 2025-03-20
Form Type: 10-K
Source: 0001641172-25-000043
Chunk: 88

Company: NexMetals Mining Corp.
Filing Date: 2025-03-20
Form: 10-K
Item: Item 1A
Chunk 88
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409
Common Shares were issued during the year ended December 31, 2024, as a result of the following financing transactions:

On
June 14, 2024, the Company closed the first tranche of a non-brokered private placement offering (the “June 2024 Financing”),
pursuant to which the Company issued an aggregate 19,234,614 units of the Company (the “Units”) at a price of $0.78
per Unit (the “Issue Price”) for aggregate gross proceeds of $15,002,999. Each Unit is comprised of one Common Share
and one Common Share purchase warrant of the Company (each, a “Warrant”).

On
June 21, 2024, the Company closed the second tranche of the June 2024 Financing and issued an additional 16,021,795 Units at the Issue
Price for gross proceeds of $12,497,000.

Each
Warrant entitles the holder thereof to acquire one Common Share for a period expiring 60 months following the date of issuance (the “Expiry
Date”) at a price of $1.10 per Common Share. If, at any time prior to the Expiry Date, the volume-weighted average trading
price of the Common Shares is at least $2.00 per Common Share for a period of 20 trading days, the Company may, at its option, accelerate
the Expiry Date with 30 days’ notice to the Warrant holders.

All
securities issued under the June 2024 Financing were subject to a hold period of four months plus one day from the date of issuance.
In connection with the June 2024 Financing, SCP Resource Finance LP (“SCP”), in its capacity as financial advisor
to the Company, was paid an advisory fee which the Company has satisfied by issuing to SCP an aggregate of 1,025,000 Units (comprised
of 1,025,000 Common Shares and 1,025,000 non-transferable Warrants), and Fort Capital was paid an advisory fee of $250,000, in each case
in consideration for providing certain advisory services to the Company in connection with the June 2024 Financing.

The
fair value of the Warrants issued under the June 2024 Financing, calculated using the Monte Carlo model, was estimated at $12,533,135.
Gross proceeds raised of $27,499,999 and related issuance costs of $358,746