Company: PRMLF
Filing Date: 2025-08-13
Form Type: 10-Q
Source: 0001493152-25-011913
Chunk: 1

Company: NexMetals Mining Corp.
Filing Date: 2025-08-13
Form: 10-Q
Item: Item 8
Chunk 1
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 adjusted exercise
price. The total number of warrants outstanding was not affected by the Consolidation. For comparative and presentation purposes, all
warrant figures presented herein, including the number of warrants outstanding and the number of Common Shares issuable upon exercise,
are presented on a post-consolidation basis.

The exercise price, number of Options outstanding, and number of Common
Shares issuable upon the exercise of outstanding Options presented in these financial statements were proportionately adjusted to reflect
the Share Consolidation. Further, the number of restricted share units and deferred share units, and number of Common Shares issuable
upon the vesting of restricted share units presented in these financial statements were also proportionately adjusted to reflect the Share
Consolidation. All information respecting outstanding Common Shares and other securities of the Company, including basic and diluted loss
per share, in the current and comparative periods presented herein give effect to the Share Consolidation.

 c) Going Concern

The
Company, being in the exploration stage, is subject to risks and challenges similar to companies in a comparable stage of exploration
and development. These risks include the challenges of securing adequate capital for exploration and advancement of the Company’s
material projects, operational risks inherent in the mining industry, and global economic and metal price volatility, and there is no
assurance management will be successful in its endeavors.

These
unaudited condensed interim consolidated financial statements have been prepared on the assumption that the Company will continue as
a going concern, meaning it will continue in operation for the foreseeable future and will be able to realize assets and discharge liabilities
in the ordinary course of operations. 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. To date, the Company has not generated profitable operations from its
resource activities and will need to invest additional funds in carrying out its planned evaluation, development and operational 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. These 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