Company: PRMLF
Filing Date: 2025-08-13
Form Type: 10-Q
Source: 0001493152-25-011913
Chunk: 56

Company: NexMetals Mining Corp.
Filing Date: 2025-08-13
Form: 10-Q
Item: Item 8
Chunk 56
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Settlement Warrant entitles the holder to acquire one additional Common Share of the Company at a price of $8.00 per Common Share until
March 18, 2028. If, at any time prior to the expiry date, the volume-weighted average trading price of the Common Shares is at least
$40.00 per Common Share 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.

38

The
Private Placement consisted of issuing 7,666,667 units (each, a “Private Placement Unit”) of the Company at a price
of $6.00 per unit for aggregate gross proceeds of $46,000,000. Each Private Placement Unit consisted of one Common Share of the Company
and one-half of one Common Share purchase warrant (each whole warrant, a “Private Placement Warrant”) of the Company.
Each Private Placement Warrant entitles the holder to acquire one additional Common Share at a price of $11.00 per share until March
18, 2028.

In
connection with the March 2025 Financing, the Company issued: (i) 200,000 Common Shares to TriView Capital Ltd. (“TriView”)
for its services as finder; (ii) 450,000 Common Shares to Fiore Management and Advisory Corp. (“Fiore”) and 187,500
Common Shares to Bowering Projects Ltd. (“Bowering”) for certain advisory services; and (iii) 179,335 Common Shares
to a financial advisor for financial advisory services. In addition to the Common Shares, the Company
incurred various legal, listing and financing fees payable in cash totalling $2,371,203.

As
at June 30, 2025, the Company has expended $17,582,633 of the Private Placement net proceeds. While the Company has arranged this additional
financing, the proceeds are intended for the advancement of exploration and evaluation activities at the Mines and for general corporate
and working capital purposes. Subject to any changes in the Company’s operational plan, this transaction will provide the Company
with the funds required to advance its planned activities and cover administrative costs into the first quarter of 2026. Therefore, the
Company will need to arrange additional financing to meet its commitments under the asset purchase agreements (see “Contractual
Obligations and Contingencies”).

2024

In
June