Company: NMEX
Filing Date: 2025-11-26
Form Type: 10-K/A
Source: 0001437749-25-036462
Chunk: 24

Company: NORTHERN MINERALS & EXPLORATION LTD.
Filing Date: 2025-11-26
Form: 10-K/A
Chunk 24
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 Company issued a Promissory Note to Golden Sands Exploration Inc, for $. The note bears interest at % and matures on June 1, 2026. Interest is to be paid quarterly with the first payment due on or before September 1, 2023. As of July 31, 2024, there is $ and $ of principal and accrued interest, respectively, due on this loan. As of July 31, 2025, there is $ and $ of principal and accrued interest, respectively, due on this loan.

NOTE 8—COMMON STOCK TRANSACTION

On October 18, 2024, the Company granted shares of common stock for services. The shares were valued at $, the closing stock price on the date of grant, for total non-cash expense of $.

Pursuant to the terms of the Purchase Agreement with Lost Creek Acquisitions, LLC the Company issued shares of common Stock (Note 4).

Refer to Note 8 for transactions with related parties.

NOTE 9—RELATED PARTY NOTE PAYABLE

The Company has a line of credit (“LOC”) with Mr. Miranda, a former director, for up to $. The LOC bears interest at % to be paid quarterly and matures in five years. As of July 31, 2025, there is $ and $ of principal and accrued interest, respectively, due on the LOC.

NOTE 10—RELATED PARTY TRANSACTIONS

For the years ending July 31, 2025 and 2024, total payments of $ and $, respectively, were made to Noel Schaefer, a Director of the Company, for consulting services. As of July 31, 2025 and 2024, there is $ and $, respectively, credited to other payables (long term).

For the year ending July 31, 2025 and 2024, total payments of $ and $, respectively, were made to Ivan Webb, CEO of the Company, for consulting services.

During the year ending July 31, 2025, Victor Miranda, a former Director, purchased shares of common stock for total proceeds of $.

During the year ending July 31, 2025, Robert Campbell, a former Director, purchased shares of common stock for total proceeds of $.

On March 12, 2025, Robert Campbell resigned as Director and Secretary of the Company.

On April 30, 2025, Victor Miranda resigned as Director of the Company.

NOTE 11—INCOME TAX

Deferred taxes