Company: PRMLF
Filing Date: 2025-11-13
Form Type: 10-Q
Source: 0001493152-25-022391
Chunk: 92

Company: NexMetals Mining Corp.
Filing Date: 2025-11-13
Form: 10-Q
Item: Item 8
Chunk 92
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ed
in Canadian dollars)

(d)
Share Consolidation

On
June 20, 2025, the Company consolidated its Common Shares on the basis of twenty (20) pre-consolidated shares for every one (1) post-consolidation
share (the “Share Consolidation”). No fractional shares were issued in connection with the Share Consolidation. All
fractional shares created by the Share Consolidation were rounded to the nearest whole number of Common Shares, with any fractional interest
representing one-half (1/2) or more Common Shares entitling holders thereof to receive one whole Common Share.

As
a result of the Share Consolidation, the number of Common Shares issuable upon exercise of outstanding warrants has been adjusted in
accordance with the applicable warrant terms, such that each warrant now entitles the holder to receive one post-consolidation
Common Share for every twenty Common Shares previously issuable, at a proportionally adjusted exercise price. The total number of
warrants outstanding was not affected by the Consolidation. For comparative and presentation purposes, all warrant figures presented
herein, including the number of warrants outstanding and the number of Common Shares issuable upon exercise, are presented on a
post-consolidation basis.

The
exercise price, number of Options outstanding, and number of Common Shares issuable upon the exercise of outstanding Options presented
in these financial statements were proportionately adjusted to reflect the Share Consolidation. Further, the number of restricted share
units and deferred share units, and number of Common Shares issuable upon the vesting of restricted share units presented in these financial
statements were also proportionately adjusted to reflect the Share Consolidation. All information respecting outstanding Common Shares
and other securities of the Company, including basic and diluted loss per share, in the current and comparative periods presented herein
give effect to the Share Consolidation.

(e)
Basis of Consolidation

These
unaudited condensed interim consolidated financial statements include the financial statements of the Company and its wholly owned
subsidiaries as summarized in the table below. All intercompany transactions, balances, income and expenses are eliminated upon
consolidation.

SCHEDULE OF ITS WHOLLY-OWNED SUBSIDIARIES INCLUDED IN THE CONSOLIDATED FINANCIAL STATEMENTS

    Name
    of Entity
     
    Place
    of Incorporation
     
    Percentage
    Ownership
     
    Functional
    Currency

    NexMetals Mining Corp.
     
    British Columbia,