Company: PRMLF
Filing Date: 2025-03-20
Form Type: 10-K
Source: 0001641172-25-000043
Chunk: 91

Company: NexMetals Mining Corp.
Filing Date: 2025-03-20
Form: 10-K
Item: Item 1A
Chunk 91
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 2 years  
     3 years 

    F-24

Notes
to the Consolidated Financial Statements

For
the years ended December 31, 2024 and 2023

(Expressed
in Canadian dollars)

The
volatility was determined by calculating the historical volatility of stock prices of the Company over a period, being the expected life
of the Transferable Warrants, using daily closing prices. The formula used to compute historical volatility is the standard deviation
of the logarithmic returns.

On
December 14, 2023, the company closed an equity and debt financing package of $21,642,393, comprised of a brokered private placement
(the “Private Placement”) and amended Term Loan (Note 9). The Private
Placement was entered into by the Company with Cormark Securities Inc. and BMO Capital Markets, as co-lead agents, and Canaccord Genuity
Corp., Fort Capital Securities Ltd. and Paradigm Capital Inc. (collectively, the “Agents”). Under the Private Placement,
the Company issued an aggregate of 13,133,367 Common Shares at a price of $1.20 per Common Share for aggregate gross proceeds of $15,760,040.
In consideration of the services provided by the Agents under the Private Placement, the Company paid to the Agents an aggregate cash
commission of $796,983. In connection with the Private Placement, EdgePoint exercised its participation right in respect of the Private
Placement (the “Participation Right”) and subscribed for an aggregate of 1,265,800 Common Shares.

b)Warrants

The
following summarizes Common Share purchase warrant activity:

SUMMARY
OF COMMON SHARE PURCHASE WARRANT ACTIVITY

    Year ended December 31, 

    2024  
    2023 

    Number
Outstanding  
    Weighted Average Exercise Price $  
    Number Outstanding    
    Weighted Average Exercise Price $ 
  
    Outstanding, beginning of the year 
     6,891,099  
     1.50  
     1,098,786  
     1.96 
  
    Issued 
     36,281,409  
     1.10  
     6,595,448  
     1.46 
  
    Exercised 
     -  
     -  
     (100,000) 
     (1.75)