Company: PRMLF
Filing Date: 2025-03-20
Form Type: 10-K
Source: 0001641172-25-000043
Chunk: 174

Company: NexMetals Mining Corp.
Filing Date: 2025-03-20
Form: 10-K
Item: Item 1B
Chunk 174
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2024, all of the net proceeds of the December 2023 Financing had been expended as planned.

Although
the Company has been successful in its past fundraising activities, there is no assurance as to the success of future fundraising efforts
or as to the sufficiency of funds raised in the future. Factors that could affect the availability of financing include the progress
and results of ongoing exploration and evaluation activities at the Mines, the state of international debt and equity markets, as may
be impacted by inflation and investor perceptions and expectations with respect to global commodity markets. If necessary, depending
on the amount of funding raised, the Company may explore opportunities to defer the timing of certain discretionary expenditures and
the Company’s planned initiatives and other work programs may be postponed, or otherwise revised.

Use
of Proceeds

The
following table provides a summary of the principal use of proceeds of the June 2024 Financing and the December 2023 Financing.

    Principal Purpose 
    Estimated Amount as at December 31, 2024(1) $000’s  
    Amounts Expended as at December 31, 2024 $000’s 

    June 2024 Financing 

    Activities relating to the Selebi Mines 
     22,500 (2) 
     18,541 
  
    Activities relating to the Selkirk Mine 
     1,000 (3) 
     936 
  
    General corporate and working capital 
     3,800 (4) 
     1,701 

     27,300  
     21,178 

    Principal Purpose 
    Estimated Amount $000’s  
    Amounts Expended as at December 31, 2024 $000’s 

    December 2023 Financing 

    Activities relating to the Selebi Mines 
     11,520 (5) 
     11,520 
  
    Activities relating to the Selkirk Mine 
     400 (6) 
     400 
  
    General corporate and working capital 
     7,839 (7) 
     7,839 

     19,759  
     19,759 

Notes:

(1)The
                                            use of the June 2024 Financing proceeds has been updated as of December 31, 2024, to reflect any
                                            changes in planned activities, as outlined below.

(2)Represents
                                            approximately: (i)