Company: PRMLF
Filing Date: 2025-03-20
Form Type: 10-K
Source: 0001641172-25-000043
Chunk: 34

Company: NexMetals Mining Corp.
Filing Date: 2025-03-20
Form: 10-K
Item: Item 1A
Chunk 34
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 consideration for their services. The shares remain subject
to contractual resale restrictions for a 12-month period. The Company also paid its financial advisor a fee of US$1,500,000, consisting of US$500,000 in cash and US$1,000,000
in 3,586,709 Common Shares issued at a price of US$0.28 per share.

The Company also
granted: (i) 5,750,000 stock options with each option having an exercise price of $0.50, a term of five years, and vesting as to one-half
on the date of grant and the balance on the first anniversary of the date of grant; and (ii) 3,175,000 RSUs, each RSU vesting in full
on the first anniversary of the date of grant. 

Subject
to any changes in the Company’s operational plan, this transaction will provide the Company with the funds required to advance
its planned activities and cover administrative costs through to the end of 2025.

On
June 14, 2024, the Company closed the first tranche of the June 2024 Financing, pursuant to which the Company issued an aggregate 19,234,614
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