Company: PRMLF
Filing Date: 2025-08-13
Form Type: 10-Q
Source: 0001493152-25-011913
Chunk: 81

Company: NexMetals Mining Corp.
Filing Date: 2025-08-13
Form: 10-Q
Item: Item 8
Chunk 81
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experienced management and technical teams located in Botswana and/or with extensive experience in operating properties in Africa;
(ii) ensured that certain members of the Board of Directors and management routinely visit the Company’s Botswana properties;
(iii) retained advisors and technical experts in Botswana including its local legal counsel; and (iv) generally maintained robust
internal control over its foreign subsidiaries, all of which are more particularly described below.

i.Subsidiaries
                                            and Operations in Botswana

The
Company’s principal business activity in Botswana is the exploration, evaluation and planned re-development of the Mines.

The
establishment and development of local Botswanan legal entities adds an additional regulatory framework within which the Company operates
and is supplementary to the regulatory framework existing in Canada. The Company holds its interest in the Selebi Mines and the Selkirk
Mine indirectly through its 100% owned subsidiaries PNRPL and PNGPL, respectively.

The
Company’s operating entities in Botswana are governed in accordance with applicable local laws and entity-wide governance principles.
The directors and management of the Company’s operating entities in Botswana are generally comprised of a majority of senior management
employees and where required by local laws, local residents, who are generally longstanding local management level employees, or local
corporate counsel. In addition, certain members of the Company’s management have experience conducting business in Botswana, as
detailed below, where the Company has maintained operations since 2021. Operating in Botswana requires greater internal controls and
adherence to a regulatory framework which creates challenges in relation to decision-making, communication, and compliance. The Company
has experienced management and has retained legal advisors and consultants to help facilitate adherence to regulatory requirements in
order to meet this challenge.

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ii.Experienced
                                            Board and Management

In
addition to their experience with the Company, the Board of Directors and management also have extensive experience operating and managing
investments and projects in Africa. Furthermore, they bring diverse expertise in areas such as global strategy, finance, exploration,
technology, and corporate development. Their collective experience spans several decades and includes successful ventures in both public
and private sectors. Certain members of the Board of Directors, management and senior officers of the Company have made trips to Botswana
to gain a deeper understanding of the Company’s operations and projects as well as to impart their experience and knowledge of
the local business, culture and practices to the other members of the Board of Directors and officers.

The
Company’s Chief Executive Officer and Director