Company: PRMLF
Filing Date: 2025-03-20
Form Type: 10-K
Source: 0001641172-25-000043
Chunk: 173

Company: NexMetals Mining Corp.
Filing Date: 2025-03-20
Form: 10-K
Item: Item 1B
Chunk 173
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614
Units at a price of $0.78 per Unit (the “Issue Price”) for aggregate gross proceeds of $15,002,999. Each Unit is comprised
of one Common Share and one common share purchase warrant of the Company (each, a “Warrant”). Each Warrant
entitles the holder thereof to acquire one Common Share for a period expiring 60 months following the date of issuance (the “Expiry
Date”) at a price of $1.10 per Common Share. If, at any time prior to the Expiry Date, the volume-weighted average trading
price of the Common Shares is at least $2.00 per Common Share for a period of 20 trading days, the Company may, at its option, accelerate
the Expiry Date within 30 days’ notice to the Warrant holders.

-27-

On
June 21, 2024, the Company closed the second tranche of the June 2024 Financing and issued an additional 16,021,795 Units at the Issue
Price for gross proceeds of $12,497,000. Together with proceeds from the first tranche, the total size of the June 2024 Financing was
approximately $27.5 million. As at December 31, 2024, the Company has expended $21,178,020 of the June 2024 Financing.

On
December 14, 2023, the Company closed a financing (the “December 2023 Financing”) comprised of a brokered private
placement of units (the “December 2023 Private Placement”) and an amended Term Loan. Under the December 2023 Private
Placement, the Company issued an aggregate of 13,133,367 Common Shares at a price of $1.20 per Common Share for aggregate gross proceeds
of $15,760,040. The principal amount of the Term Loan was increased by $5,882,353 (the “Additional Principal Amount”)
from $15,000,000 to $20,882,353. The Additional Principal Amount was subject to an original issue discount of approximately 15% and was
advanced by Cymbria to the Company as a single advance of $5,000,000. The net proceeds from the December 2023 Financing were $19,743,845
after fees and expenses, which have been used to advance the exploration and evaluation of the Mines and for general corporate and working
capital purposes. As at December 31,