Company: PRMLF
Filing Date: 2025-11-13
Form Type: 10-Q
Source: 0001493152-25-022391
Chunk: 30

Company: NexMetals Mining Corp.
Filing Date: 2025-11-13
Form: 10-Q
Item: Item 1
Chunk 30
---
 The same implied
discount for lack of marketability for purposes of the Common Shares valuation was also applied to the share price for the Settlement
Warrants valuation.

In
connection with the March 2025 Financing, the Company issued: (i) 200,000 Common Shares to TriView Capital Ltd. (“TriView”)
for its services as finder; (ii) 450,000 Common Shares to Fiore Management and Advisory Corp. (“Fiore”) and 187,500
Common Shares to Bowering Projects Ltd. (“Bowering”) for certain advisory services; and (iii) 179,335 Common Shares
to a financial advisor for financial advisory services. The fair value of these shares was determined to be $5,179,586. In addition to
the Common Shares, the Company incurred various legal, listing and financing fees payable in cash totalling $2,371,203. Certain of these
fees were allocated between the non-brokered private placement (Note 11(a)) and Debt Conversion
transactions based on the value of the units issued under each transaction.

All
securities issued as part of the Debt Conversion are subject to a hold period, which expired 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, September 30, 2025 
     - 

    17

Notes
to the Unaudited Condensed Interim Consolidated Financial Statements

For
the three and nine months ended September 30, 2025 and