Company: PRMLF
Filing Date: 2025-03-20
Form Type: 10-K
Source: 0001641172-25-000043
Chunk: 340

Company: NexMetals Mining Corp.
Filing Date: 2025-03-20
Form: 10-K
Item: Item 1C
Chunk 340
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 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, RSUs and warrants into Common Shares would be anti-dilutive given the Company’s
ongoing net loss position.

    F-13

Notes
to the Consolidated Financial Statements

For
the years ended December 31, 2024 and 2023

(Expressed
in Canadian dollars)

 (q) Income taxes

The
Company’s tax provision consists of taxes currently payable or receivable, plus any change during the period in deferred tax assets
and liabilities. The Company uses the asset and liability method of accounting for income taxes. Under this method, deferred tax assets
and liabilities are recognized for certain temporary differences between the financial statement carrying amounts of assets and liabilities
and their respective tax basis. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable
income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and
liabilities of a change in tax rates is recognized in net loss in the period of the enactment date. In addition, a valuation allowance
is established to reduce any deferred tax asset for which it is determined that it is more likely than not that some portion of the deferred
tax asset will not be realized.

The
Company operates in multiple jurisdictions where uncertainties arise in the application of complex tax