Company: PRMLF
Filing Date: 2025-03-20
Form Type: 10-K
Source: 0001641172-25-000043
Chunk: 40

Company: NexMetals Mining Corp.
Filing Date: 2025-03-20
Form: 10-K
Item: Item 1A
Chunk 40
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, BCL and TNMC. The Company has an obligation for the rehabilitation costs arising subsequent to
the acquisitions. As of December 31, 2024, 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 re-development of its projects or future changes in such laws and environmental
regulations.

Related
Party Transactions

Related
party transactions are summarized below and include transactions with the following individuals or entities:

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

    Year ended December 31, 

    2024 $  
    2023 $ 
  
    Salaries and management fees 
     1,373,388  
     1,195,550 
  
    One-time retirement benefit 
     1,168,729  
     - 
  
    Site operations and administration 
     2,088,356  
     2,394,776 
  
    DSUs granted, net of fair value movements 
     57,183  
     670,008 
  
    Share-based compensation 
     1,252,483  
     657,138 

     5,940,139  
     4,917,472 

As
a result of the 2023 financing transactions on June 28, 2023, and December 14, 2023, Cymbria and certain other funds managed by EdgePoint
(the “Financing Parties”) acquired a total of 16,037,800 Common Shares. The Financing Parties also acquired on closing
of the 2023 financing transactions an aggregate of 6,024,000 warrants with an expiration date of June 28, 2026, and an exercise price
of $1.4375. Further, in connection with the June 2024 Financing, EdgePoint subscribed for 7,692,307 Units at $0.78 per Unit for gross
proceeds of approximately $6.0 million.

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