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

Company: NexMetals Mining Corp.
Filing Date: 2025-11-13
Form: 10-Q
Item: Item 1
Chunk 13
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, unaudited condensed interim consolidated statements
of operations and comprehensive loss, unaudited condensed interim consolidated statements of cash flows, and the notes to the unaudited
condensed interim consolidated financial statements have been reclassified to conform to the current year presentation. These reclassifications
have no effect on net loss or shareholders’ equity as previously reported. For the three and nine months ended September 30, 2024,
an adjustment has been made to reduce share-based compensation by $933,619 and $1,712,843, respectively, on the face of the unaudited
condensed interim consolidated statement of operations and comprehensive loss, and to increase general and administrative expenses by
$548,776 and $1,082,348, respectively, and to increase general exploration expenses by $384,843 and $630,495, respectively. For the three
and nine months ended September 30, 2024, general and administrative expenses were reduced by $1,031,149 and $2,974,563, respectively,
with an increase to general exploration expenses of $924,622 and $2,707,944, respectively, and an increase to investor relations and
communications of $106,527 and $266,619, respectively. For the nine months ended September 30, 2024, operating cash outflows attributable
to the purchase of spares of $989,920 were reclassified to investing cash outflows. Trade payables and accruals of $584,364 were reclassified
from current to non-current for the year ended December 31, 2024.

    9

Notes
to the Unaudited Condensed Interim Consolidated Financial Statements

For
the three and nine months ended September 30, 2025 and 2024

(Expressed
in Canadian dollars)

(d)
Share Consolidation

On
June 20, 2025, the Company consolidated its Common Shares on the basis of twenty (20) pre-consolidated shares for every one (1) post-consolidation
share (the “Share Consolidation”). No fractional shares were issued in connection with the Share Consolidation. All
fractional shares created by the Share Consolidation were rounded to the nearest whole number of Common Shares, with any fractional interest
representing one-half (1/2) or more Common Shares entitling holders thereof to receive one whole Common Share.

As
a result of the Share Consolidation, the number of Common Shares iss