Company: PRMLF
Filing Date: 2025-05-13
Form Type: 10-Q
Source: 0001641172-25-010011
Chunk: 36

Company: NexMetals Mining Corp.
Filing Date: 2025-05-13
Form: 10-Q
Item: Item 1
Chunk 36
---
 redemption date.

The following is a continuity of the DSUs:

SCHEDULE
OF DSU GRANTED

    Number of Awards  
    Price(1) $  
    Fair Value $ 
  
    DSUs outstanding at December 31, 2023 
     730,975  
     1.21  
     884,481 
  
    Granted 
     1,433,769  
     0.71  
     1,020,523 
  
    Fair value adjustment 
     -  
     -  
     (963,340)
  
    DSUs outstanding at December 31, 2024 
     2,164,744  
     0.44  
     941,664 
  
    Granted 
     -  
     -  
     - 
  
    Fair value adjustment 
     -  
     -  
     (10,824)
  
    DSUs outstanding at March 31, 2025 
     2,164,744  
     0.43  
     930,840 
  
    Less: current portion 
     798,308  
     0.43  
     343,272 
  
    Non-current portion 
     1,366,436  
     0.43  
     587,568 

Note:

(1)For DSUs granted and outstanding,
                                            price represents the closing price of the Company’s Common Shares on the grant date
                                            and balance sheet date, respectively. For DSUs redeemed, price represents the volume weighted
                                            average price on the TSXV for the last five trading days immediately preceding the redemption
                                            date.

During the three months ended March 31, 2025,
the Company did not grant DSUs, and recorded a fair value adjustment gain of $10,824 on the outstanding DSUs. During the three months
ended March 31, 2024, the DSU compensation, net of fair value adjustments, was $54,647.

The DSUs are classified as a derivative financial
liability measured at fair value, with changes in fair value recorded in profit or loss. The fair value of the DSUs was determined based
on the closing price of the Company’s Common Shares on the respective balance sheet date. As at March 31, 2025, the Company reassessed
the fair value of the DS