Company: PRMLF
Filing Date: 2025-05-13
Form Type: 10-Q
Source: 0001641172-25-010011
Chunk: 75

Company: NexMetals Mining Corp.
Filing Date: 2025-05-13
Form: 10-Q
Item: Item 1
Chunk 75
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 for a period of 20 trading days, the Company may, at its option, accelerate the expiry date with 30 days’
notice to the Settlement Warrant holders.

The foregoing description of the Debt
Settlement Agreement is qualified in its entirety by reference to the full text of the Debt Settlement Agreement, which is attached as
Exhibit 10.1 to this Report and is incorporated by reference herein.

48

The Investor Rights Agreement previously entered into
between the Company and EdgePoint was amended upon the closing of the Debt Conversion (the “Investor Rights Agreement”) including
to increase EdgePoint’s director nomination right from one director of the Company to two directors and to provide EdgePoint with
certain information and registration rights, provided in each case that EdgePoint meets certain equity ownership thresholds and satisfies
certain other conditions, and a “right to place” securities proposed to be sold by EdgePoint in favor of the Company in certain
circumstances.

The foregoing description of the Investor Rights Agreement
is qualified in its entirety by reference to the full text of the Investor Rights Agreement, which is attached as Exhibit 10.3 to this
Report and is incorporated by reference herein.

All securities issued under the Debt Conversion are
subject to a hold period of four months plus one day from the date of issuance in accordance with applicable Canadian securities laws
and the policies of the Exchange.

On March 18, 2025, the Company closed the Private
Placement. The Private Placement consisted of issuing 153,333,334 Private Placement
Units of the Company at a price of $0.30 per Private Placement Unit for aggregate gross proceeds of $46,000,000. Each Private Placement
Unit consists of one Common Share of the Company and one-half of one Private Placement Warrant of the Company. Each Private Placement
Warrant entitles the holder to acquire one additional Common Share at a price of $0.55 per share until March 18, 2028.

In connection
with the above transactions, the Company issued: (i) 4,000,000 Common Shares to TriView for its services as finder; (ii) 9,000,000 Common
Shares to Fiore and 3,750,000 Common Shares to Bowering for certain advisory services; and (iii) 3,586,709 Common Shares to a financial
advisor for financial advisory services.

    Item 3.02
    Unregistered Sales of Equity Securities

The information set forth under Item 1