Company: PRMLF
Filing Date: 2025-05-13
Form Type: 10-Q
Source: 0001641172-25-010011
Chunk: 66

Company: NexMetals Mining Corp.
Filing Date: 2025-05-13
Form: 10-Q
Item: Item 1
Chunk 66
---
5, there were no material rehabilitation costs for which the Company expects to incur, and management
is not aware of or anticipating any contingent liabilities that could impact the financial position or performance of the Company related
to its exploration and evaluation assets.

The Company’s exploration and evaluation assets
are affected by the laws and environmental regulations that exist in the various jurisdictions in which the Company operates. It is not
possible to estimate any future contingent liabilities and the impact on the Company’s operating results due to future changes in
the Company’s development of its projects or future changes in such laws and environmental regulations.

Related Party Transactions

Key management personnel

Key management (defined as members of the Board of
Directors and senior officers) compensation was related to the following:

    Three months ended March 31, 

    2025 $  
    2024 $ 
  
    Salaries and management fees 
     196,104  
     256,491 
  
    Site operations and administration 
     426,914  
     583,037 
  
    DSUs granted, net of fair value movements 
     (10,824) 
     54,647 
  
    Share-based compensation 
     328,536  
     220,998 

     940,730  
     1,115,173 

41

Other related parties

On March 18, 2025, the Company closed the March
2025 Financing which included the conversion of its Term Loan held by EdgePoint
and its affiliates, related parties of the Company, to equity. The Company issued to EdgePoint and its affiliates an aggregate of 69,607,843
Settlement Units. As of March 31, 2025, EdgePoint and its affiliates beneficially owned an aggregate of 93,441,067 Common Shares and 83,324,150
warrants, representing approximately 21.8% of the outstanding Common Shares (approximately 34.5% on a partially-diluted basis assuming
the exercise of all warrants held by EdgePoint).

In connection with the Private Placement, certain
insiders of the Company subscribed for an aggregate of 3,936,667 Private Placement Units for gross proceeds of $1,181,000.

During 2024, EdgePoint and its affiliates subscribed
for 7,692,307 units as part of the June 2024 Financing. As of December 31, 2024, EdgePoint and its affiliates