Company: PRMLF
Filing Date: 2025-03-20
Form Type: 10-K
Source: 0001641172-25-000043
Chunk: 89

Company: NexMetals Mining Corp.
Filing Date: 2025-03-20
Form: 10-K
Item: Item 1A
Chunk 89
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 in cash, and the value of $1,087,755 for 1,025,000 Units
granted to SCP were allocated to the Common Shares and the 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, 2024  
    June 21, 2024 
  
    Expected dividend yield 
     0% 
     0%
  
    Share price 
    $0.81  
    $0.84 
  
    Expected share price volatility 
     83.17% 
     83.71%
  
    Risk free interest rate 
     3.23% 
     3.30%
  
    Expected life of warrant 
     5 years  
     5 years 

The
volatility was determined by calculating the historical volatility of stock prices of the Company over a 5-year period using daily closing
prices. The formula used to compute historical volatility is the standard deviation of the logarithmic returns.

As
at December 31, 2024, the Company had 185,708,588 Common Shares issued and outstanding (December 31, 2023 – 149,300,920).

On
March 18, 2025, the Company closed a private placement financing (Note 19).

Year
ended December 31, 2023

During
the year ended December 31, 2023, 337,026 Common Shares were issued for the net exercise of 488,900 options, and 100,000 Common Shares
were issued from the exercise of warrants. In addition, 32,342,551 Common Shares were issued during the year ended December 31, 2023,
as a result of the following financing transactions:

On
February 24, 2023, the Company issued 4,437,184 Common Shares at a price of $1.75 per share for gross proceeds of $7,765,072 upon the
closing of a brokered private placement (the “February 2023 Financing”). In connection with the February 2023 Financing,
the Company: (a) paid to the agents a cash commission of $473,383 and (b) issued to the agents 221,448 non-transferable broker warrants
of the Company (the “Broker Warrants”). Each Broker Warrant was exercisable to acquire one Common Share at an exercise