Company: PRMLF
Filing Date: 2025-11-13
Form Type: 10-Q
Source: 0001493152-25-022391
Chunk: 111

Company: NexMetals Mining Corp.
Filing Date: 2025-11-13
Form: 10-Q
Item: Item 8
Chunk 111
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to the Unaudited Condensed Interim Consolidated Financial Statements

For
the three and nine months ended September 30, 2025 and 2024

(Expressed
in Canadian dollars)

11.
SHARE CAPITAL

As
disclosed in Note 2(d), the Share Consolidation has been applied retrospectively herein.

The
authorized capital of the Company comprises an unlimited number of Common Shares without par value and 20,000,000 Preferred Shares, issuable
in series, of which 4,000,000 are authorized to be designated as Series 1 Convertible Preferred Shares.

There
are currently 118,186 Series 1 Convertible Preferred Shares outstanding, without par value, which are convertible at a ratio of 180:1,
to 657 Common Shares.

    a)
    Common Shares Issued
    and Outstanding

Nine
months ended September 30, 2025

On
March 18, 2025, the Company closed the March 2025 Financing which included a non-brokered private placement and the conversion of its
$20,882,353 three-year Term Loan with Cymbria (Note 9).

The
non-brokered private placement (the “Private Placement”) consisted of issuing 7,666,667 units (each, a “Private
Placement Unit”) of the Company at a price of $6.00 per unit for aggregate gross proceeds of $46,000,000. Each Private Placement
Unit consisted of one Common Share of the Company and one-half of one Common Share purchase warrant (each whole warrant, a “Private
Placement Warrant”) of the Company. Each Private Placement Warrant entitles the holder to acquire one additional Common Share
at a price of $11.00 per share until March 18, 2028.

In
connection with the March 2025 Financing, the Company issued: (i) 200,000 Common Shares to TriView for its services as finder; (ii) 450,000
Common Shares to Fiore and 187,500 Common Shares to Bowering for certain advisory services; and (iii) 179,335 Common Shares to a financial
advisor for financial advisory services. The fair value of these shares was determined to be $5,179,586. In addition to the Common Shares,
the Company incurred various legal, listing and financing fees payable in cash totalling $2,371,203. Certain of these fees were allocated
between the Private Placement