Company: PRMLF
Filing Date: 2025-03-20
Form Type: 10-K
Source: 0001641172-25-000043
Chunk: 41

Company: NexMetals Mining Corp.
Filing Date: 2025-03-20
Form: 10-K
Item: Item 1A
Chunk 41
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As
of December 31, 2024, EdgePoint beneficially owns 23,833,224 Common Shares and 13,716,307 Warrants, representing approximately 12.8%
of the issued and outstanding Common Shares (approximately 18.8% on a partially-diluted basis assuming the exercise of all warrants held
by EdgePoint). All warrants issued to EdgePoint as part of the June 2024 Financing include customary restrictions providing that EdgePoint
will not exercise such number of warrants so as to bring its undiluted share ownership percentage above 20.0% of the Company’s
issued and outstanding Common Shares without obtaining the requisite shareholder and Exchange approval.

In
connection with the June 2024 Financing, certain insiders of the Company subscribed for an aggregate of 1,389,140 Units for gross proceeds
of $1,083,529.

For
the year ended December 31, 2024, the Company paid interest of $2,082,830 (2023 - $793,392) to the Financing Parties.

Segmented
Disclosure

The
Company operates in one reportable operating segment being that of the acquisition, exploration and evaluation of mineral properties
in three geographic segments being Canada, Barbados, and Botswana. The Company’s geographic segments are as follows:

    December 31, 2024 $   
    December 31, 2023 $ 
  
    Current assets 

    Canada 
     4,066,121  
     15,894,177 
  
    Barbados 
     89,446  
     104,024 
  
    Botswana 
     3,462,676  
     4,680,572 
  
    Total 
     7,618,243  
     20,678,773 

    Property, plant and equipment 

    Canada 
     -  
     8,726 
  
    Botswana 
     8,488,405  
     8,691,908 
  
    Total 
     8,488,405  
     8,700,634 

    Exploration and evaluation assets 

    Botswana 
     8,846,821  
     8,594,798 

The
Company’s exploration and evaluation activities are assessed at the individual project level. The Selebi and Selkirk projects below
make up the Botswana geographic segment.

    Year ended December