Company: PRMLF
Filing Date: 2025-11-13
Form Type: 10-Q
Source: 0001493152-25-022391
Chunk: 207

Company: NexMetals Mining Corp.
Filing Date: 2025-11-13
Form: 10-Q
Item: Item 3
Chunk 207
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 the price of minerals produced, the Company may determine that it is impractical to commence commercial production.

The
Company may be unable to close the November 2025 best-efforts Offering in Canada and concurrent private placement in the United States

There
can be no assurance that the Company will be able to complete the November 2025 best-efforts public Offering in Canada and
concurrent private placement in the United States or that sufficient net proceeds will be raised to meet the Company’s planned
objectives. Because the Offering is being conducted on a best-efforts basis, the agents are not obligated to purchase any of the
securities offered, and there is no minimum amount that must be raised in order for the Offering to close.

If
the Offering does not close, or if less than the anticipated amount of proceeds is received, the Company may be required to reduce, defer,
or re-prioritize planned expenditures, including exploration and evaluation activities, and may need to seek alternative sources of financing.

If
the Company is unable to raise sufficient funds to satisfy its obligations under the Selebi APA by the required date, it may need to
seek additional equity or debt financing or reallocate existing resources. There can be no assurance that such additional financing will
be available on acceptable terms or at all. Failure to obtain sufficient financing within the required timeframe could have a material
adverse effect on the Company’s business, financial condition, or results of operations, including the potential requirement to
return the Selebi or Selkirk Mines to the liquidators.

Use
of Proceeds of the November 2025 best efforts Offering may be used other than as described

Management
will have discretion concerning the use of the proceeds of the November 2025 Offering as well as the timing of their expenditure. As
a result, an investor will be relying on the judgment of management for the application of the proceeds of the Offering. Management may
use the net proceeds of the Offering other than as described in this Form 10-Q if they believe it would be in the Corporation’s
best interest to do so and in ways that an investor may not consider desirable. The results and the effectiveness of the application
of the proceeds are uncertain. If the proceeds are not applied effectively, the Corporation’s results of operations may suffer.

46

Item
2. Unregistered Sales of Equity Securities and Use of Proceeds

There were no unregistered sales of the Company’s equity securities during the nine months ended September 30, 2025, other than