Company: PRMLF
Filing Date: 2025-03-20
Form Type: 10-K
Source: 0001641172-25-000043
Chunk: 170

Company: NexMetals Mining Corp.
Filing Date: 2025-03-20
Form: 10-K
Item: Item 1B
Chunk 170
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 months in 2024, compared to six months in 2023.

●Deferred
                                            tax recovery of $524,531 related to the warrants issued with the Term Loan was recognized
                                            in the prior year period.

Cash
Flows

The
following table summarizes the Company’s cash flows:

    Year ended December 31, 

    2024 $  
    2023 $ 
  
    Cash flows 

    Operating activities 
     (37,599,434) 
     (29,462,860)
  
    Investing activities 
     (1,022,231) 
     (5,254,964)
  
    Financing activities 
     25,346,644  
     50,138,346 
  
    Increase (decrease) in cash and cash equivalents before effects of exchange rate changes 
     (13,275,021) 
     15,420,522 
  
    Effect of exchange rate changes on cash and cash equivalents 
     135,326  
     (1,337,885)
  
    Change in cash and cash equivalents for the period 
     (13,139,695) 
     14,082,637 
  
    Cash and cash equivalents at the beginning of the period 
     19,245,628  
     5,162,991 
  
    Cash and cash equivalents at the end of the period 
     6,105,933  
     19,245,628 

Operating
Activities

Net
cash used in operating activities for 2024 increased by $8,136,574 compared to 2023 resulting from the ramp-up of drilling, geology,
geophysics, mine development, and other activities at the Mines over the year.

Investing
Activities

Key
investing activities relate to the acquisition of property, plant and equipment. Net cash used in investing activities for 2024 decreased
by $4,232,733 compared to 2023. The higher spending in 2023 was related to the acquisition of mobile equipment and the upfront purchase
of tools and parts for the three drills which were leased in 2023.

Financing
Activities

Net
cash provided by financing activities for 2024 decreased by $24,791,702 compared to 2023. During 2023, the Company obtained a Term Loan
for gross proceeds of approximately $20.0 million and closed private placements for gross proceeds