Company: PRMLF
Filing Date: 2025-05-13
Form Type: 10-Q
Source: 0001641172-25-010011
Chunk: 96

Company: NexMetals Mining Corp.
Filing Date: 2025-05-13
Form: 10-Q
Item: Item 2
Chunk 96
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 the date of grant and the balance vesting on the first anniversary of the date of grant. There were no stock options granted during the prior year comparable period.

    ●
    DSUs granted, net of fair value movement, or deferred share units, represents the Company’s long-term incentive program compensation granted to directors of the Company, net of period-end mark to market adjustments. The decrease of $65,471 for the three months ended March 31, 2025 is a result of DSUs not being granted during the current period as the Company evaluates its board of directors’ compensation plan.

    ●
    Interest income and expense represents interest income earned on cash and cash equivalent deposits and interest expense on the Company’s vehicle financing and previous lease liabilities. Net interest income increased by $179,779 for the three months ended March 31, 2025. The final instalments on the drilling equipment and Syringa Lodge leases were paid subsequent to the first quarter of 2024, resulting in lower interest expense for the current period.

    ●
    Interest expense and accretion on Term Loan comprises the accrued interest on the Company’s now extinguished Term Loan (see “Liquidity & Capital Resources – Financings” below), as well as the accretion of related transaction costs and fees. The decrease of $331,739 for the three months ended March 31, 2025 relates to the Term Loan being converted to equity during the first quarter of 2025.

    ●
    Loss on Term Loan extinguishment represents the difference between the fair value of the Settlement Units (defined in “Liquidity & Capital Resources – Financings”) issued and the carrying amount of the Term Loan on the date it was converted to equity.

37

Cash Flows

The following table summarizes the Company’s
cash flows:

    Three months ended March 31, 

    2025 $  
    2024 $ 
  
    Cash flows 

    Operating activities 
     (6,294,964) 
     (8,485,949)
  
    Investing activities 
     (50,033) 
     (1,051,902)
  
    Financing activities 
     45,568,232  
     (354,475)
  
    Increase (decrease) in cash and cash equivalents before effects of exchange rate changes 
     39,223,235  
     (9,892,326)
  
    Effect of exchange rate