Company: PRMLF
Filing Date: 2025-08-13
Form Type: 10-Q
Source: 0001493152-25-011913
Chunk: 62

Company: NexMetals Mining Corp.
Filing Date: 2025-08-13
Form: 10-Q
Item: Item 8
Chunk 62
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 the Company closed the March 2025 Financing which included the conversion of its
Term Loan held by EdgePoint and its affiliates to equity. The Company issued to EdgePoint and its affiliates an aggregate of 3,480,392
Settlement Units. As of June 30, 2025, EdgePoint and its affiliates beneficially owned an aggregate of 4,672,053 Common Shares and 4,166,208
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 196,833 Private Placement Units
for gross proceeds of $1,181,000.

During
2024, EdgePoint and its affiliates, related parties of the Company, subscribed for 384,615 units as part of the June 2024 Financing.
As of December 31, 2024, EdgePoint and its affiliates beneficially owned 1,191,661 Common Shares and 685,815 warrants, representing approximately
12.8% of the issued and outstanding Common Shares (approximately 18.8% on a partially-diluted basis assuming the exercise of all warrants
held by EdgePoint).

For
the three and six months ended June 30, 2025, the Company paid interest of $nil (three months ended June 30, 2024 - $519,206) and $268,896
(six months ended June 30, 2024 - $1,038,412), respectively, to Cymbria Corporation. For the three and six months ended June 30, 2025,
the Company recognized a loss on the Debt Conversion of $nil (three months ended June 30, 2024 - $nil) and $5,982,434 (six months ended
June 30, 2024 - $nil), respectively.

Segmented
Disclosure

The
Company operates in one reportable operating segment, being that of the acquisition, exploration and evaluation of mineral properties,
in three geographic segments, being Canada, Barbados, and Botswana. The Company’s geographic segments are as follows:

    June 30, 2025 $  
    December 31, 2024 $ 
  
    Current assets 

    Canada 
     19,907,057  
     4,066,121