Company: PRMLF
Filing Date: 2025-03-20
Form Type: 10-K
Source: 0001641172-25-000043
Chunk: 47

Company: NexMetals Mining Corp.
Filing Date: 2025-03-20
Form: 10-K
Item: Item 1A
Chunk 47
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 Resources Ltd ) (the “Company”)
as at December 31, 2024 and 2023, and the related consolidated statements of operations and comprehensive loss, changes in shareholders’
equity (deficiency), and cash flows for each of the years in the two-year period ended December 31, 2024, and the related notes (collectively
referred to as the “consolidated financial statements”).

In
our opinion, the consolidated financial statements present fairly, in all material respects, the consolidated financial position of the
Company as at December 31, 2024 and 2023, and the results of its consolidated operations and its consolidated cash flows for each of
the years in the two-year period ended December 31, 2024, in conformity with accounting principles generally accepted in the United States
of America.

Material
Uncertainty Related to Going Concern

The
accompanying consolidated financial statements have been prepared assuming that the Company will continue as a going concern. As discussed
in Note 1 to the consolidated financial statements, the Company has incurred recurring net losses and has no source of operating cash
flows. Which raises substantial doubt about its ability to continue as a going concern. Management’s plans in regard to these matters
are also described in Note 1. The consolidated financial statements do not include any adjustments that might result from the outcome
of this uncertainty.

Basis
for Opinion

These
consolidated financial statements are the responsibility of the Company’s management. Our responsibility is to express an opinion
on the Company’s consolidated financial statements based on our audits. We are a public accounting firm registered with the Public
Company Accounting Oversight Board (United States) (“PCAOB”) and are required to be independent with respect to the Company
in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission
and the PCAOB.

We
conducted our audits in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain
reasonable assurance about whether the consolidated financial statements are free of material misstatement, whether due to error or fraud.
The Company is not required to have, nor were we engaged to perform, an audit of its internal control over financial reporting. As part
of our audits, we are required to obtain an understanding of internal control over financial reporting, but not for the purpose of expressing
an opinion on the effectiveness of the Company’s internal control over financial reporting.