Company: PRMLF
Filing Date: 2025-11-13
Form Type: 10-Q
Source: 0001493152-25-022391
Chunk: 114

Company: NexMetals Mining Corp.
Filing Date: 2025-11-13
Form: 10-Q
Item: Item 8
Chunk 114
---
% 
     83.71%
  
    Risk free interest rate 
     3.23% 
     3.30%
  
    Expected life of warrant 
     5 years  
     5 years 

The
volatility was determined by calculating the historical volatility of stock prices of the Company over a 5-year period using daily closing
prices. The formula used to compute historical volatility is the standard deviation of the logarithmic returns.

During
the year ended December 31, 2024, 6,313 Common Shares were issued for the net exercise of 13,905 Options.

    b)
    Warrants

The
following summarizes Common Share purchase warrant activity:

SUMMARY
OF COMMON SHARE PURCHASE WARRANT ACTIVITY

    Nine months ended  
    Year ended 

    September 30, 2025  
    December 31, 2024 

    Number Outstanding  
    Weighted Average Exercise Price $  
    Number Outstanding  
    Weighted Average Exercise Price $ 
  
    Outstanding, beginning of the year 
     2,126,342  
     23.02  
     344,555  
     30.00 
  
    Issued 
     7,313,726  
     9.57  
     1,814,070  
     22.00 
  
    Expired 
     (11,072) 
     (35.00) 
     (32,283) 
     (41.00)
  
    Outstanding, end of the period 
     9,428,996  
     12.58  
     2,126,342  
     23.02 

    20

Notes
to the Unaudited Condensed Interim Consolidated Financial Statements

For
the three and nine months ended September 30, 2025 and 2024

(Expressed
in Canadian dollars)

At
September 30, 2025, the Company had outstanding Common Share purchase warrants exercisable to acquire Common Shares as follows:

SCHEDULE OF DETAILS OF WARRANTS OUTSTANDING

    Warrants  Outstanding  
    Warrants Exercisable  
    Expiry  Date 
    Exercise  Price  $  
    Intrinsic Value $ 
  
     301,200  
     301,200  
    June 28, 2026 
     28.