Company: PRMLF
Filing Date: 2025-03-20
Form Type: 10-K
Source: 0001641172-25-000043
Chunk: 172

Company: NexMetals Mining Corp.
Filing Date: 2025-03-20
Form: 10-K
Item: Item 1B
Chunk 172
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 In addition, the Company issued 4,000,000 Common Shares at an issue price of $0.30 per share
to TriView Capital Ltd. for its services as finder.

In
accordance with the previously announced debt settlement agreement, the
Company has issued to Cymbria an aggregate of 69,607,843 units (“Settlement Units”) at a deemed issue price of
$0.30 per unit in full satisfaction of the $20,882,353 principal amount outstanding under the Term Loan, and the
settlement of the $268,896 accrued interest in cash. Each Settlement Unit consists of one Common Share and one Common Share
purchase warrant (each, a “Settlement Warrant”). Each Settlement Warrant entitles the holder to acquire one
additional Common Share at a price of $0.40 per Common Share until March 18, 2028.

The Company
also entered into advisory services agreements which include assistance with the identification of a new CEO, the Debt Conversion,
and Company strategy. The advisors will continue to provide such services on an ongoing basis until June 30, 2025. The Company issued
12,750,000 Common Shares to the advisors at a deemed price per share of $0.30 as consideration for their services. The shares remain subject
to contractual resale restrictions for a 12-month period. The Company also paid its financial advisor a fee of US$1,500,000, consisting of US$500,000 in cash and US$1,000,000
in 3,586,709 Common Shares issued at a price of US$0.28 per share.

The Company also
granted: (i) 5,750,000 stock options with each option having an exercise price of $0.50, a term of five years, and vesting as to one-half
on the date of grant and the balance on the first anniversary of the date of grant; and (ii) 3,175,000 RSUs, each RSU vesting in full
on the first anniversary of the date of grant. 

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 through to the end of 2025.

On
June 14, 2024, the Company closed the first tranche of the June 2024 Financing, pursuant to which the Company issued an aggregate 19,234,