Company: PRMLF
Filing Date: 2025-11-13
Form Type: 10-Q
Source: 0001493152-25-022391
Chunk: 167

Company: NexMetals Mining Corp.
Filing Date: 2025-11-13
Form: 10-Q
Item: Item 2
Chunk 167
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 as rail, power and roads.

NEXM
is headquartered in Vancouver, British Columbia, Canada and its common shares (the “Common Shares”) are publicly traded
on the Nasdaq Capital Market (the “Nasdaq”) and the TSX Venture Exchange (the “TSXV”) under the
symbol “NEXM”. Prior to June 11, 2025, the Company traded on the TSXV under its previous name and symbol, Premium Resources
Ltd. and PREM, respectively.

Highlights
and Key Developments:

    ●
    On January 31, 2025, the
    Company filed the Selkirk Mineral Resource Estimate (“MRE”) in conformance with the SEC’s Modernized Property
    Disclosure Requirements for Mining Registrants as described in Subpart 229.1300 of Regulation S-K, Disclosure by Registrants Engaged
    in Mining Operations (S-K 1300) and Item 601(b)(96) Technical Report Summary, entitled “S-K 1300 Technical Report Summary,
    Selkirk Nickel Project, North East District, Republic of Botswana” (the “Selkirk TRS”) and dated January
    8, 2025 (with an effective date of November 1, 2024) for its Selkirk Mine. The Selkirk MRE provides a solid foundation for advancing
    the Selkirk deposit to an economic study. 

    ● 
    On
    March 18, 2025, the Company closed a significant recapitalization of the Company which included a $46.0 million non-brokered equity
    private placement and the equity conversion of its $20.9 million three-year term loan with Cymbria Corporation. The March 2025 Financing
    has resulted in the successful deleveraging of the Company’s balance sheet and has provided the Company with the funds necessary
    to advance its new strategic direction. On March
    20, 2025, Morgan Lekstrom was appointed as the Company’s Chief Executive Officer. For a summary of the transactions, see “Liquidity
    & Capital Resources — Financings”.

28

    ●
    The Company announced the following appointments to the board of directors (the “Board of Directors” or the “Board”):

    ○
     Chris Leavy on March
    25, 2025

    ○
    André van
    Niekerk on April