Company: PRMLF
Filing Date: 2025-03-20
Form Type: 10-K
Source: 0001641172-25-000043
Chunk: 371

Company: NexMetals Mining Corp.
Filing Date: 2025-03-20
Form: 10-K
Item: Item 1C
Chunk 371
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 basis, provided shareholder approval has been obtained on
or prior to the relevant redemption date.

    F-27

Notes
to the Consolidated Financial Statements

For
the years ended December 31, 2024 and 2023

(Expressed
in Canadian dollars)

The
following is a continuity of the DSUs:

SCHEDULE
OF DSU GRANTED

    Number of Awards  
    Price(1) $  
    Fair Value  $ 
  
    DSUs outstanding at December 31, 2022 
     200,000  
     1.49  
     298,000 
  
    Granted 
     600,951  
     1.33  
     798,122 
  
    Redeemed 
     (69,976) 
     1.19  
     (83,527)
  
    Fair value adjustment 
     -  
        
     (128,114)
  
    DSUs outstanding at December 31, 2023 
     730,975  
     1.21  
     884,481 
  
    Granted 
     1,433,769  
     0.71  
     1,020,523 
  
    Fair value adjustment 
     -  
        
     (963,340)
  
    DSUs outstanding at December 31, 2024 
     2,164,744  
     0.44  
     941,664 
  
    Less: current portion 
     408,279  
     0.44  
     177,602 
  
    Long-term portion 
     1,756,465  
     0.44  
     764,062 

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 year ended December 31, 2024, the DSU compensation, net of fair value adjustments, was $57,183 (2023 - $670,008).

The
DSUs are classified as a derivative financial liability measured at fair value, with changes in fair value recorded in profit or