Company: PRMLF
Filing Date: 2025-05-13
Form Type: 10-Q
Source: 0001641172-25-010011
Chunk: 99

Company: NexMetals Mining Corp.
Filing Date: 2025-05-13
Form: 10-Q
Item: Item 2
Chunk 99
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 30 days’ notice to the Settlement Warrant holders.

38

The
Private Placement consisted of issuing 153,333,334 units (each, a “Private Placement Unit”) of the Company at a price
of $0.30 per unit for aggregate gross proceeds of $46,000,000. Each Private Placement Unit consisted of one Common Share of the Company
and one-half of one Common Share purchase warrant (each whole warrant, a “Private Placement Warrant”) of the Company.
Each Private Placement Warrant entitles the holder to acquire one additional Common Share at a price of $0.55 per share until March 18,
2028.

In
connection with the March 2025 Financing, the Company issued: (i) 4,000,000 Common Shares to TriView Capital Ltd. (“TriView”)
for its services as finder; (ii) 9,000,000 Common Shares to Fiore Management and Advisory Corp. (“Fiore”) and 3,750,000
Common Shares to Bowering Projects Ltd. (“Bowering”) for certain advisory services; and (iii) 3,586,709 Common Shares
to a financial advisor for financial advisory services. In addition to the Common Shares,
the Company incurred various legal, listing and financing fees payable in cash totalling $2,371,203. As of March 31, 2025, the Company
has made cash payments relating to these fees of $397,250.

As at March 31, 2025, the Company has expended $553,704
of the Private Placement net proceeds. While the Company has arranged this additional financing, the proceeds are intended for the advancement
of exploration and evaluation activities at the Mines and for general corporate and working capital purposes. Subject to any changes in
the Company’s operational plan, this transaction will provide the Company with the funds required to advance its planned activities
and cover administrative costs into the first quarter of 2026. Therefore, the Company will need to arrange additional financing to meet
its commitments under the asset purchase agreements (see “Contractual Obligations and Contingencies”).

2024

In June of 2024, the Company closed two tranches of
a non-brokered private placement offering of units of the Company, pursuant to which the Company issued a total of 35,256,409 units at
a price of $0.78 per unit for gross proceeds of approximately $27.5 million (the “June