Company: PRMLF
Filing Date: 2025-03-20
Form Type: 10-K
Source: 0001641172-25-000043
Chunk: 373

Company: NexMetals Mining Corp.
Filing Date: 2025-03-20
Form: 10-K
Item: Item 1C
Chunk 373
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, representing approximately 12.8%
of the issued and outstanding Common Shares (approximately 18.8% on a partially-diluted basis assuming the exercise of all warrants held
by EdgePoint). All warrants issued to EdgePoint as part of the June 2024 Financing include customary restrictions providing that EdgePoint
will not exercise such number of warrants so as to bring its undiluted share ownership percentage above 20.0% of the Company’s
issued and outstanding Common Shares without obtaining the requisite shareholder and TSXV approval.

In
connection with the June 2024 Financing, certain insiders of the Company subscribed for an aggregate of 1,389,140 Units for gross proceeds
of $1,083,529.

For
the year ended December 31, 2024, the Company paid interest of $2,082,530 (2023 - $793,392) to the Financing Parties.

    (b)Key
                                            management personnel are defined as members of the Board of Directors and certain senior
                                            officers.

Key
management compensation was related to the following:

    Year ended December 31, 

    2024 $  
    2023 $ 
  
    Salaries and management fees 
     1,373,388  
     1,195,550 
  
    One-time retirement benefit 
     1,168,729  
     - 
  
    Site operations and administration 
     2,088,356  
     2,394,776 
  
    DSUs granted, net of fair value movements 
     57,183  
     670,008 
  
    Share-based compensation 
     1,252,483  
     657,138 
  
    Key
    management compensation 
     5,940,139  
     4,917,472 

The
one-time retirement benefit for the year ended December 31, 2024, relates to the retirement of the Company’s former Chief Executive
Officer.

    F-29

Notes
to the Consolidated Financial Statements

For
the years ended December 31, 2024 and 2023

(Expressed
in Canadian dollars)

14. FAIR
VALUE OF FINANCIAL INSTRUMENTS

ASC
820 - Fair Value Measurement establishes a three-tier fair value hierarchy. The fair value hierarchy’s three tiers are based
on the extent to which inputs used in measuring fair value are observable in the