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

Company: NexMetals Mining Corp.
Filing Date: 2025-05-13
Form: 10-Q
Item: Item 1
Chunk 25
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are subject to a hold period expiring July 19, 2025, with the exception of the Common Shares issued to Fiore and Bowering which have
a hold period expiring March 19, 2026.

The following is a continuity of the Term Loan:

SCHEDULE
OF CONTINUITY OF TERM LOAN

    $ 
  
    Term Loan balance, December 31, 2023 
     17,956,423 
  
    Accrued interest 
     2,082,530 
  
    Accretion of warrant value and transaction costs 
     1,026,789 
  
    Interest paid 
     (2,082,530)
  
    Term Loan balance, December 31, 2024 
     18,983,212 
  
    Accrued interest 
     268,896 
  
    Accretion of warrant value and transaction costs 
     159,475 
  
    Interest paid 
     (268,896)
  
    Debt Conversion 
     (19,142,687)
  
    Term Loan balance, March 31, 2025 
     - 

 9. NSR OPTION

In 2023, Cymbria paid an aggregate of $2,750,000
(“Option Payment”) to two subsidiaries of PREM to acquire a right to participate with such subsidiaries in the exercise
of certain contractual rights. The Option Payment was allocated to PNRP and PNGP (defined below) for $2,500,000 and $250,000, respectively.

As the NSR options are exercisable entirely at
the discretion of Cymbria and the underlying projects are in the exploration stage, the fair value of the call and put on the options
as at December 31, 2024 and December 31, 2023 is $nil. The Option payment received in cash was recorded as a non-current liability.

    18
     Notes to the Unaudited Condensed Interim Consolidated Financial StatementsFor the three months ended March 31, 2025 and 2024(Expressed in Canadian dollars)

PREM’s indirect wholly-owned subsidiary
Premium Nickel Resources Proprietary Limited (“PNRP”) acquired the Selebi Mines in January 2022 out of liquidation.
Pursuant to the acquisition agreement, the liquidator retained a 2% net smelter returns royalty on the Selebi Mines. PNRP has a contractual
right to rep