Company: PRMLF
Filing Date: 2025-03-20
Form Type: 10-K
Source: 0001641172-25-000043
Chunk: 164

Company: NexMetals Mining Corp.
Filing Date: 2025-03-20
Form: 10-K
Item: Item 1B
Chunk 164
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 under the Income Tax Act (Canada)
(the “Tax Act”) generally applicable to a holder who is a beneficial owner of our Common Shares and who, at all relevant
times, (i) is not, and is not deemed to be, resident in Canada for purposes of the Tax Act and any applicable income tax treaty or convention,
(ii) is resident in the United States for purposes of the Treaty (as defined below) and is fully entitled to all benefits of the Treaty,
(iii) deals at arm’s length with us, and is not affiliated with us, for purposes of the Tax Act, (iv) holds our Common Shares as
capital property for purposes of the Tax Act, and (v) does not use or hold, and is not deemed to use or hold, our Common Shares in the
course of carrying on, or otherwise in connection with, a business in Canada for purposes of the Tax Act (a “U.S. Resident Holder”).
Special rules, which are not discussed in this summary, may apply to a U.S. Resident Holder that is an insurer carrying on an insurance
business in Canada and elsewhere or an “authorized foreign bank” (as defined in the Tax Act). Generally, our Common Shares
will be considered to be capital property to a holder provided that the holder does not use or hold such shares in the course of carrying
on a business of trading or dealing in securities and such holder has not acquired them or been deemed to have acquired them in one or
more transactions considered to be an adventure or concern in the nature of trade.

This
summary is based upon the current provisions of the Tax Act and the regulations thereunder (the “Regulations”) in
force as of the date hereof, our understanding of the administrative policies and assessing practices of the Canada Revenue Agency (the
“CRA”) published in writing by the CRA prior to the date hereof, and the Canada-United States Tax Convention
(1980) as amended by the Protocols thereto prior to the date hereof (the “Treaty”). This summary also takes
into account all specific proposals to amend the Tax Act and the Regulations publicly announced by or on behalf of the Minister of Finance
(Canada) prior to the date hereof (the “Tax Proposals”) and assumes that all such Tax Proposals will be enacted in
their present form. However, no assurances can be given that the Tax Proposals will be enacted in the form proposed, or at all. This
summary