Company: PRMLF
Filing Date: 2025-08-13
Form Type: 10-Q
Source: 0001493152-25-011913
Chunk: 22

Company: NexMetals Mining Corp.
Filing Date: 2025-08-13
Form: 10-Q
Item: Item 8
Chunk 22
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 of a non-brokered private placement offering (the “June 2024 Financing”),
pursuant to which the Company issued an aggregate 961,730 units of the Company (the “June 2024 Units”) at a price
of $15.60 per Unit for aggregate gross proceeds of $15,002,999. Each June 2024 Unit was comprised of one Common Share and one Common
Share purchase warrant of the Company (each, a “June 2024 Warrant”).

On
June 21, 2024, the Company closed the second tranche of the June 2024 Financing and issued an additional 801,090 June 2024 Units at $15.60
per Unit for gross proceeds of $12,497,000.

Each
June 2024 Warrant entitles the holder thereof to acquire one Common Share for a period expiring 60 months following the date of issuance
(the “Expiry Date”) at a price of $22.00 per Common Share. If, at any time prior to the Expiry Date, the volume-weighted
average trading price of the Common Shares is at least $40.00 per Common Share for a period of 20 trading days, the Company may, at its
option, accelerate the Expiry Date with 30 days’ notice to the June 2024 Warrant holders.

    20

Notes to the Unaudited Condensed Interim Consolidated Financial Statements

For the three and six months ended June 30, 2025 and 2024

(Expressed in Canadian dollars)

In
connection with the June 2024 Financing, the Company issued 51,250 June 2024 Units (comprised of 51,250 Common Shares and 51,250 non-transferable
June 2024 Warrants) to a financial advisor.

The
fair value of the June 2024 Warrants, calculated using the Monte Carlo model, was estimated at $12,533,135. Gross proceeds raised of
$27,499,999 and related issuance costs of $358,746 in cash, and the value of $1,087,755 for 51,250 June 2024 Units granted to the financial
advisor were allocated to the Common Shares and the June 2024 Warrants based on relative fair values. The key inputs used in the Monte-Carlo
model were as follows:

SCHEDULE
OF FAIR VALUE OF WARRANTS

    June 14