Company: PRMLF
Filing Date: 2025-03-20
Form Type: 10-K
Source: 0001641172-25-000043
Chunk: 105

Company: NexMetals Mining Corp.
Filing Date: 2025-03-20
Form: 10-K
Item: Item 1A
Chunk 105
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 option grants, and the 2024 RSU grants
under the Company’s new RSU Plan.

19.
SUBSEQUENT EVENTS

On
March 18, 2025, the Company closed a significant refinancing and the deleveraging of its balance sheet with the
conversion of the Term Loan (Note 9) into equity (the “Debt Conversion”).

The
Company completed a private placement financing issuing 153,333,334 units of the Company at a price of $0.30 per unit for aggregate
gross proceeds of approximately $46 million
(the “March 2025 Private Placement”). Each unit consists of one Common Share and one-half of one warrant. Each
warrant entitles the holder to acquire one additional Common Share at a price of $0.55 per
share until March 18, 2028. In addition, the Company issued 4,000,000 Common Shares at an issue price of $0.30 per share to TriView
Capital Ltd. for its services as finder.

In
accordance with the previously announced debt settlement agreement, the Company has issued to Cymbria an aggregate of 69,607,843
units (“Settlement Units”) at a deemed issue price of $0.30
per unit in full satisfaction of the $20,882,353
principal amount outstanding under the Term Loan, and the settlement of the $268,896 accrued interest in cash. Each Settlement Unit
consists of one Common Share and one Common Share purchase warrant (each, a “Settlement Warrant”). Each
Settlement Warrant entitles the holder to acquire one additional Common Share at a price of $0.40
per Common Share until March 18, 2028.

The
Company also entered into  advisory services agreements which include assistance with the identification of a new CEO, the Debt Conversion,
and Company strategy. The advisors will continue to provide such services on an ongoing basis until June 30, 2025. The Company issued 12,750,000 Common Shares to the advisors at a deemed price per share of $0.30 as consideration for their services. The shares
remain subject to contractual resale restrictions for a 12-month period. The Company also paid its financial advisor a fee of US$1,500,000, consisting of US$500,000 in cash and US$1,000,000
in 3,586,709 Common Shares issued at a price of US$0.28 per