Company: PRMLF
Filing Date: 2025-03-20
Form Type: 10-K
Source: 0001641172-25-000043
Chunk: 339

Company: NexMetals Mining Corp.
Filing Date: 2025-03-20
Form: 10-K
Item: Item 1C
Chunk 339
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 loss.

    F-12

Notes
to the Consolidated Financial Statements

For
the years ended December 31, 2024 and 2023

(Expressed
in Canadian dollars)

Depreciation
is calculated using the straight-line method to charge the cost, less residual value, of the assets to net loss over their estimated
useful lives. The depreciation rate applicable to each category of property, plant and equipment is as follows:

SCHEDULE
OF ESTIMATED USEFUL LIVES OF PROPERTY AND EQUIPMENT 

    Property, Plant & Equipment 
    Estimated useful life (years)
  
    Computer and software 
    2
  
    Vehicles 
    4
  
    Equipment 
    5
  
    Furniture and fixtures 
    10
  
    Buildings 
    25

 (l) Additional paid-in capital

Additional
paid-in capital is presented at the value of the shares issued as the Company’s shares have no stated par value. Transaction costs
directly attributable to the issuance of Common Shares are recognized as a deduction from equity. Transactions with shareholders are
disclosed separately in equity.

The
proceeds from the exercise of stock options or warrants together with amounts previously recorded in additional paid-in capital over
the vesting periods are recorded as additional paid-in capital.

 (m) Unit placements

The
Company uses the relative fair value method with respect to the measurement of shares and warrants issued as private placement units.
Under the relative fair value method, the Company first determines the fair value of the Common Shares and warrants issued in a private
placement, calculates the total fair value of the issued units, and then allocates the proceeds received between the Common Shares and
warrants based on their relative fair values.

 (n) Share-based compensation

The
Company grants equity settled share-based compensation in the form of share options and restricted share units (“RSUs”)
in exchange for the provision of services. The Company records stock-based compensation in accordance with ASC 718 - Compensation
– Stock Compensation using the fair value method. All transactions in which goods or services are the consideration received
for the issuance of equity instruments are accounted for based on the fair value of the equity instrument issued.

The
Company determines the fair value of the awards on the date of grant. The value of the portion of the award that is ultimately expected
to vest is recognized as an expense in net loss over the requisite service period. At the end of the reporting period, the Company updates
its estimate of the number of