Company: PRMLF
Filing Date: 2025-08-13
Form Type: 10-Q
Source: 0001493152-25-011913
Chunk: 57

Company: NexMetals Mining Corp.
Filing Date: 2025-08-13
Form: 10-Q
Item: Item 8
Chunk 57
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 of 2024, the Company closed two tranches of a non-brokered private placement offering of units of the Company, pursuant to which
the Company issued a total of 1,762,820 units at a price of $15.60 per unit for gross proceeds of approximately $27.5 million (the “June
2024 Financing”). Each unit was comprised of one Common Share and one Common Share purchase warrant. As at June 30, 2025, the
Company has expended all the June 2024 Financing.

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, 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.

Going
Concern

The
ability of the Company to continue operations as a going concern is ultimately dependent upon achieving profitable operations and its
ability to obtain adequate financing. The Company incurred a net loss of $15,088,746 and $30,317,076 for the three and six months ended
June 30, 2025, respectively (net loss of $9,793,192 and $19,140,372 for the three and six months ended June 30, 2024, respectively).
To date, the Company has not generated profitable operations from its resource activities. It is not possible to predict whether future
financing efforts will be successful or if the Company will attain a profitable level of operations. These material uncertainties cast
substantial doubt about the Company’s ability to continue as a going concern. The accompanying unaudited condensed interim consolidated
financial statements do not include any adjustments relating to the recoverability and classification of recorded asset amounts and classification
of liabilities, and the reported expenses and comprehensive loss that might be necessary should the Company be unable to continue as
a going concern. These adjustments could be material. In assessing whether a going concern assumption is appropriate, management considers
all available information about the future, which is at least, but not limited to, twelve months from the date of this Report.

39

Contractual