Company: PRMLF
Filing Date: 2025-05-13
Form Type: 10-Q
Source: 0001641172-25-010011
Chunk: 37

Company: NexMetals Mining Corp.
Filing Date: 2025-05-13
Form: 10-Q
Item: Item 1
Chunk 37
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Us at $930,840 and recorded the amount as a DSU liability (December 31, 2024 - $941,664).

 11. RELATED PARTY TRANSACTIONS

The following amounts due to related parties are included in trade
payables and accrued liabilities (Note 7).

SCHEDULE
OF RELATED PARTY TRANSACTIONS

    March 31, 2025 $  
    December 31, 2024 $ 

    Directors and officers of the Company 
     47,298  
     1,259,665 
  
    Amounts due to related parties 
     47,298  
     1,259,665 

    24
     Notes to the Unaudited Condensed Interim Consolidated Financial StatementsFor the three months ended March 31, 2025 and 2024(Expressed in Canadian dollars)

Included in the amounts due to related parties
at December 31, 2024, is $1,168,729 due to the Company’s former Chief Executive Officer related to his retirement from the Company
and is payable in equal monthly installments of $48,697 until December 31, 2026. The former Chief Executive Officer was not considered
a related party at March 31, 2025.

These amounts are unsecured, non-interest bearing
and have 30-day fixed terms of repayment with the exception of the retirement payment, as noted above.

(a)Related party transactions

During 2024, EdgePoint and its affiliates, related
parties of the Company, subscribed for 7,692,307 June 2024 Units as part of the June 2024 Financing. As of December 31, 2024, EdgePoint
and its affiliates beneficially owned 23,833,224 Common Shares and 13,716,307 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).

In connection with the June 2024 Financing, certain
insiders of the Company subscribed for an aggregate of 1,389,140 Units for gross proceeds of $1,083,529.

On March 18, 2025, the Company closed the March
2025 Financing which included the conversion of its Term Loan held by EdgePoint and its affiliates to equity (Note 8). The Company issued
to EdgePoint and its