Company: PRMLF
Filing Date: 2025-03-20
Form Type: 10-K
Source: 0001641172-25-000043
Chunk: 462

Company: NexMetals Mining Corp.
Filing Date: 2025-03-20
Form: 10-K
Item: Item 7A
Chunk 462
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    Expected life of warrant 
     1 year 

The
volatility was determined by calculating the historical volatility of share prices of the Company over one year using daily closing prices.
The formula used to compute historical volatility is the standard deviation of the logarithmic returns.

    F-23

Notes
to the Consolidated Financial Statements

For
the years ended December 31, 2024 and 2023

(Expressed
in Canadian dollars)

On
June 28, 2023, the Company repaid the A&R Promissory Note in full, and on March 17, 2024, the Lender Warrants expired unexercised.

12.
SHARE CAPITAL

The
authorized capital of the Company comprises an unlimited number of Common Shares without par value and 20,000,000 Preferred Shares, issuable
in series, of which 4,000,000 are authorized to be designated as Series 1 Convertible Preferred Shares.

There
are currently 118,186 Series 1 Convertible Preferred Shares outstanding, without par value, which are convertible at a ratio of 9:1,
to 13,131 Common Shares.

a)Common
                                            Shares Issued and Outstanding

Year
ended December 31, 2024

During
the year ended December 31, 2024, 126,259 Common Shares were issued for the net exercise of 278,100 options. In addition, 36,281,409
Common Shares were issued during the year ended December 31, 2024, as a result of the following financing transactions:

On
June 14, 2024, the Company closed the first tranche of a non-brokered private placement offering (the “June 2024 Financing”),
pursuant to which the Company issued an aggregate 19,234,614 units of the Company (the “Units”) at a price of $0.78
per Unit (the “Issue Price”) for aggregate gross proceeds of $15,002,999. Each Unit is comprised of one Common Share
and one Common Share purchase warrant of the Company (each, a “Warrant”).

On
June 21, 2024, the Company closed the second tranche of the June 2024 Financing and issued an additional 16,021,795 Units at the Issue
Price for gross proceeds of $12,497,000.

Each
Warrant entitles the holder thereof to acquire one Common Share for