Company: NMEX
Filing Date: 2025-11-17
Form Type: 10-K
Source: 0001437749-25-035266
Chunk: 13

Company: NORTHERN MINERALS & EXPLORATION LTD.
Filing Date: 2025-11-17
Form: 10-K
Item: Item 8
Chunk 13
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 and matures on June 1, 2026. Interest is to be paid quarterly with the first payment due on or before September 1, 2023. As of July 31, 2024, there is $85,000and $886of principal and accrued interest, respectively, due on this loan. As of July 31, 2025, there is $85,000and $850of principal and accrued interest, respectively, due on this loan.

NOTE 8 - COMMON STOCK TRANSACTION

On October 18, 2024, the Company granted100,000shares of common stock for services. The shares were valued at $0.19, the closing stock price on the date of grant, for total non-cash expense of $19,000.

Pursuant to the terms of the Purchase Agreement with Lost Creek Acquisitions, LLC the Company issued4,000,000shares of common Stock (Note 4).

Refer to Note 8 for transactions with related parties.

NOTE 9 - RELATED PARTY NOTE PAYABLE

The Company has a line of credit (“ LOC”) with Mr. Miranda, a former director, for up to $500,000. The LOC bears interest at5% to be paid quarterly and matures in five years. As of July 31, 2025, there is $135,000and $2,040of principal and accrued interest, respectively, due on the LOC.

NOTE 10 - RELATED PARTY TRANSACTIONS

For the years ending July 31, 2025 and 2024, total payments of $66,000and $72,000, respectively, were made to Noel Schaefer, a Director of the Company, for consulting services. As of July 31, 2025 and 2024, there is $32,500and $26,500, respectively, credited to other payables (long term).

For the year ending July 31, 2025 and 2024, total payments of $3,450and $4,700, respectively, were made to Ivan Webb, CEO of the Company, for consulting services.

During the year ending July 31, 2025, Victor Miranda, a former Director, purchased300,000shares of common stock for total proceeds of $15,000.

During the year ending July 31, 2025, Robert Campbell, a former Director, purchased400,000shares of common stock for total proceeds of $20,000.

On March 12,