Company: PRMLF
Filing Date: 2025-03-20
Form Type: 10-K
Source: 0001641172-25-000043
Chunk: 228

Company: NexMetals Mining Corp.
Filing Date: 2025-03-20
Form: 10-K
Item: Item 1B
Chunk 228
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, 2023 – 149,300,920).

On
March 18, 2025, the Company closed a private placement financing (Note 19).

Year
ended December 31, 2023

During
the year ended December 31, 2023, 337,026 Common Shares were issued for the net exercise of 488,900 options, and 100,000 Common Shares
were issued from the exercise of warrants. In addition, 32,342,551 Common Shares were issued during the year ended December 31, 2023,
as a result of the following financing transactions:

On
February 24, 2023, the Company issued 4,437,184 Common Shares at a price of $1.75 per share for gross proceeds of $7,765,072 upon the
closing of a brokered private placement (the “February 2023 Financing”). In connection with the February 2023 Financing,
the Company: (a) paid to the agents a cash commission of $473,383 and (b) issued to the agents 221,448 non-transferable broker warrants
of the Company (the “Broker Warrants”). Each Broker Warrant was exercisable to acquire one Common Share at an exercise
price of $1.75 per Common Share until February 24, 2025. The fair value of the Broker Warrants was estimated at $167,939 using the Black-Scholes
Option Pricing Model. Legal fees related to the February 2023 Financing of $133,164 were also recorded as a share issuance cost. 

On
June 28, 2023, the Company issued 14,772,000 units at a price of $1.10 per unit to EdgePoint for aggregate gross proceeds of $16,249,200
upon the closing of the 2023 Financing Transactions (Note 9). Each unit comprises one Common
Share and 22.5% of one whole Common Share purchase warrant (each a “Transferable Warrant” and together, the “Transferable
Warrants”). The total whole number of Transferable Warrants issuable in the Equity Financing is 3,324,000. Each Transferable
Warrant may be exercised by the holder to purchase one Common Share at an exercise price of $1.4375 per Common Share for a period of
three years. The fair value of the Transferable Warrants was estimated at $1,898,349 using a proportionate allocation