Company: PRMLF
Filing Date: 2025-03-20
Form Type: 10-K
Source: 0001641172-25-000043
Chunk: 180

Company: NexMetals Mining Corp.
Filing Date: 2025-03-20
Form: 10-K
Item: Item 1B
Chunk 180
---
     1,168,729  
     - 
  
    Site operations and administration 
     2,088,356  
     2,394,776 
  
    DSUs granted, net of fair value movements 
     57,183  
     670,008 
  
    Share-based compensation 
     1,252,483  
     657,138 

     5,940,139  
     4,917,472 

As
a result of the 2023 financing transactions on June 28, 2023, and December 14, 2023, Cymbria and certain other funds managed by EdgePoint
(the “Financing Parties”) acquired a total of 16,037,800 Common Shares. The Financing Parties also acquired on closing
of the 2023 financing transactions an aggregate of 6,024,000 warrants with an expiration date of June 28, 2026, and an exercise price
of $1.4375. Further, in connection with the June 2024 Financing, EdgePoint subscribed for 7,692,307 Units at $0.78 per Unit for gross
proceeds of approximately $6.0 million.

-31-

As
of December 31, 2024, EdgePoint beneficially owns 23,833,224 Common Shares and 13,716,307 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). All warrants issued to EdgePoint as part of the June 2024 Financing include customary restrictions providing that EdgePoint
will not exercise such number of warrants so as to bring its undiluted share ownership percentage above 20.0% of the Company’s
issued and outstanding Common Shares without obtaining the requisite shareholder and Exchange approval.

In
connection with the June 2024 Financing, certain insiders of the Company subscribed for an aggregate of 1,389,140 Units for gross proceeds
of $1,083,529.

For
the year ended December 31, 2024, the Company paid interest of $2,082,830 (2023 - $793,392) to the Financing Parties.

Segmented
Disclosure

The
Company operates in one reportable operating segment being that of the acquisition, exploration and evaluation of mineral properties
in three geographic segments being Canada,