Company: PRMLF
Filing Date: 2025-11-13
Form Type: 10-Q
Source: 0001493152-25-022391
Chunk: 121

Company: NexMetals Mining Corp.
Filing Date: 2025-11-13
Form: 10-Q
Item: Item 8
Chunk 121
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,500  
     1,259,665 
  
    Total 
     11,500  
     1,259,665 

Included
in the amounts due to related parties at December 31, 2024, is $1,168,729 due to the Company’s former Chief Executive Officer related
to his departure from the Company and is payable in equal monthly installments of $48,697 until December 31, 2026. The former Chief Executive
Officer was not considered a related party at September 30, 2025.

These
amounts are unsecured, non-interest bearing and have 30-day fixed terms of repayment with the exception of the retirement payment, as
noted above.

    (a)
    Related party transactions

During
2024, EdgePoint and its affiliates, related parties of the Company, subscribed for 384,615 June 2024 Units as part of the June 2024 Financing.
As of December 31, 2024, EdgePoint and its affiliates beneficially owned 1,191,661 Common Shares and 685,815 warrants, 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).

On
March 18, 2025, the Company closed the March 2025 Financing which included the conversion of its Term Loan held by EdgePoint and its
affiliates to equity (Note 9). The Company issued to EdgePoint and its affiliates an aggregate
of 3,480,392 Settlement Units. As of September 30, 2025, EdgePoint and its affiliates beneficially owned an aggregate of 4,672,053 Common
Shares and 4,166,207 warrants, representing approximately 21.8% of the outstanding Common Shares (approximately 34.5% on a partially-diluted
basis assuming the exercise of all warrants held by EdgePoint).

In
connection with the Private Placement (Note 11(a)), certain insiders of the Company subscribed
for an aggregate of 196,833 Private Placement Units for gross proceeds of $1,181,000.

For
the three and nine months ended September 30, 2025, the Company paid interest of $nil (three months ended September 30, 2024 - $524,912)
and $268,896 (nine months ended September 30, 202