Company: PRMLF
Filing Date: 2025-03-20
Form Type: 10-K
Source: 0001641172-25-000043
Chunk: 65

Company: NexMetals Mining Corp.
Filing Date: 2025-03-20
Form: 10-K
Item: Item 1A
Chunk 65
---
 in additional paid-in capital over
the vesting periods are recorded as additional paid-in capital.

 (m) Unit placements

The
Company uses the relative fair value method with respect to the measurement of shares and warrants issued as private placement units.
Under the relative fair value method, the Company first determines the fair value of the Common Shares and warrants issued in a private
placement, calculates the total fair value of the issued units, and then allocates the proceeds received between the Common Shares and
warrants based on their relative fair values.

 (n) Share-based compensation

The
Company grants equity settled share-based compensation in the form of share options and restricted share units (“RSUs”)
in exchange for the provision of services. The Company records stock-based compensation in accordance with ASC 718 - Compensation
– Stock Compensation using the fair value method. All transactions in which goods or services are the consideration received
for the issuance of equity instruments are accounted for based on the fair value of the equity instrument issued.

The
Company determines the fair value of the awards on the date of grant. The value of the portion of the award that is ultimately expected
to vest is recognized as an expense in net loss over the requisite service period. At the end of the reporting period, the Company updates
its estimate of the number of awards that are expected to vest and adjusts the total expense to be recognized over the vesting period.
Where an unvested award is cancelled by the Company or the counterparty, any remaining element of the fair value of the award is expensed
immediately or reversed through profit or loss, depending on the type of cancellation.

 (o) Deferred Share Units (“DSUs”)

The
Company grants cash settled share-based compensation in the form of DSUs to its Directors in exchange for the provision of services.
The Company records the fair value of the liability at the date which it is incurred based on the number of units granted multiplied
by the price of the Company’s Common Shares on the date of grant, and adjusts the liability to the fair value at the end of each
reporting period and at the date of settlement. Changes in fair value are recognized in net loss for the period.

 (p) Loss per Common Share

Basic
loss per Common Share is calculated using the weighted average number of Common Shares outstanding during the period and does not include
outstanding options, RSUs and warrants. Dilutive loss per Common Share is not presented differently from basic loss per Common Share
as the conversion of outstanding stock options