Company: PRMLF
Filing Date: 2025-03-20
Form Type: 10-K
Source: 0001641172-25-000043
Chunk: 83

Company: NexMetals Mining Corp.
Filing Date: 2025-03-20
Form: 10-K
Item: Item 1A
Chunk 83
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     63.54%
  
    Risk free interest rate 
     4.13% 
     3.73%
  
    Expected life of warrant 
     3 years  
     2.54 years 

The
volatility was determined by calculating the historical volatility of stock prices of the Company over the same period as the expected
life of the Transferable Warrants using daily closing prices. The formula used to compute historical volatility is the standard deviation
of the logarithmic returns.

The
Company used $7,637,329 of the proceeds from the Term Loan to prepay all principal, interest and fees owing by the Company pursuant to
the A&R Promissory Note (defined in Note 11) in favour of Pinnacle Island LP.

For
the year ended December 31, 2024, the Company paid $2,082,530 of interest costs to Cymbria (2023 – $793,392).

    F-21

Notes
to the Consolidated Financial Statements

For
the years ended December 31, 2024 and 2023

(Expressed
in Canadian dollars)

The
following is a continuity of the Term Loan:

SCHEDULE
OF CONTINUITY OF TERM LOAN

    $ 
  
    Principal amount of the Term Loan 
     15,000,000 
  
    Fair value of the Non-Transferrable Warrants 
     (1,435,350)
  
    Term Loan at fair value on issuance, June 28, 2023 
     13,564,650 
  
    Transaction costs 
     (787,175)
  
    Accrued interest 
     390,411 
  
    Accretion of warrant value and transaction costs 
     631,540 
  
    Interest paid 
     (390,411)
  
    Fair value of Term Loan as of December 14, 2023 
     13,409,015 
  
    Additional principal amount of Term Loan on December 14, 2023 
     5,882,353 
  
    Term Loan issue discount 
     (882,353)
  
    Fair value of the Additional Warrants 
     (275,961)
  
    Transaction fee for modification 
     (219,212)
  
    Fair value of modified Term Loan as of December 14, 2023 
     17,913,842 
  
    Accrued interest