Company: PRMLF
Filing Date: 2025-08-13
Form Type: 10-Q
Source: 0001493152-25-011913
Chunk: 29

Company: NexMetals Mining Corp.
Filing Date: 2025-08-13
Form: 10-Q
Item: Item 8
Chunk 29
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 outstanding at December 31, 2024 
     108,236  
     8.70  
     941,664 
  
    Redeemed 
     (19,335) 
     9.85  
     (190,446)
  
    Fair value adjustment 
     -  
     -  
     368,935 
  
    DSUs outstanding at June 30, 2025 
     88,901  
     12.60  
     1,120,153 
  
    Less: current portion 
     39,915  
     12.60  
     502,929 
  
    Non-current portion 
     48,986  
     12.60  
     617,224 

Note:

(1)For
                                            DSUs granted and outstanding, price represents the closing price of the Company’s Common
                                            Shares on the grant date and balance sheet date, respectively. For DSUs redeemed, price represents
                                            the volume weighted average price on the TSXV for the last five trading days immediately
                                            preceding the redemption date.

During
the six months ended June 30, 2025, the Company did not grant DSUs. During the three and six months ended June 30, 2025, the Company
recorded a fair value adjustment gain of $379,759 and $368,935, respectively, on the outstanding DSUs. During the three and six months
ended June 30, 2024, the DSU compensation, net of fair value adjustments, was $189,750 and $244,397, respectively.

The
DSUs are classified as a derivative financial liability measured at fair value, with changes in fair value recorded in profit or loss.
The fair value of the DSUs was determined based on the closing price of the Company’s Common Shares on the respective balance sheet
date. As at June 30, 2025, the Company reassessed the fair value of the DSUs at $1,120,153 and recorded the amount as a DSU liability
(December 31, 2024 - $941,664).

    24

Notes to the Unaudited Condensed Interim Consolidated Financial Statements

For the three and six months ended June 30, 2025 and 2024

(Expressed in Canadian dollars)

11. RELATED PARTY TRANSACTIONS

The
following amounts due to