Company: PRMLF
Filing Date: 2025-11-13
Form Type: 10-Q
Source: 0001493152-25-022391
Chunk: 14

Company: NexMetals Mining Corp.
Filing Date: 2025-11-13
Form: 10-Q
Item: Item 1
Chunk 14
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uable upon exercise of outstanding warrants has been adjusted in
accordance with the applicable warrant terms, such that each warrant now entitles the holder to receive one post-consolidation
Common Share for every twenty Common Shares previously issuable, at a proportionally adjusted exercise price. The total number of
warrants outstanding was not affected by the Consolidation. For comparative and presentation purposes, all warrant figures presented
herein, including the number of warrants outstanding and the number of Common Shares issuable upon exercise, are presented on a
post-consolidation basis.

The
exercise price, number of Options outstanding, and number of Common Shares issuable upon the exercise of outstanding Options presented
in these financial statements were proportionately adjusted to reflect the Share Consolidation. Further, the number of restricted share
units and deferred share units, and number of Common Shares issuable upon the vesting of restricted share units presented in these financial
statements were also proportionately adjusted to reflect the Share Consolidation. All information respecting outstanding Common Shares
and other securities of the Company, including basic and diluted loss per share, in the current and comparative periods presented herein
give effect to the Share Consolidation.

(e)
Basis of Consolidation

These
unaudited condensed interim consolidated financial statements include the financial statements of the Company and its wholly owned
subsidiaries as summarized in the table below. All intercompany transactions, balances, income and expenses are eliminated upon
consolidation.

SCHEDULE OF ITS WHOLLY-OWNED SUBSIDIARIES INCLUDED IN THE CONSOLIDATED FINANCIAL STATEMENTS

    Name
    of Entity
     
    Place
    of Incorporation
     
    Percentage
    Ownership
     
    Functional
    Currency

    NexMetals Mining Corp.
     
    British Columbia, Canada

    CAD
  
    NAN Exploration Inc.
     
    Ontario, Canada
     
    100
     
    CAD
  
    PNR Amalco Ltd.
     
    Ontario, Canada
     
    100
     
    CAD
  
    Premium Resources International Ltd.
     
    Barbados
     
    100
     
    USD
  
    Premium Resources Selkirk (Barbados) Limited
     
    Barbados
     
    100
     
    USD
  
    Premium Resources Selebi (Barbados) Limited
     
    Barbados
     
    100
     
    USD
  
    Premium Nickel Group Prop