Company: PRMLF
Filing Date: 2025-11-13
Form Type: 10-Q
Source: 0001493152-25-022391
Chunk: 42

Company: NexMetals Mining Corp.
Filing Date: 2025-11-13
Form: 10-Q
Item: Item 1
Chunk 42
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 date and balance sheet date, respectively. For
    DSUs redeemed, price represents the volume weighted average price on the TSXV for the last five trading days immediately preceding
    the redemption date.

During
the nine months ended September 30, 2025, the Company did not grant DSUs. During the three and nine months ended September 30, 2025,
the Company recorded a fair value adjustment gain of $442,727 and $73,792, respectively, on the outstanding DSUs. During the three and
nine months ended September 30, 2024, the DSU compensation, net of fair value adjustments, was $164,193 and $408,590, respectively.

The
DSUs are classified as a derivative financial liability measured at fair value, with changes in fair value recorded in profit or loss.
The fair value of the DSUs was determined based on the closing price of the Company’s Common Shares on the respective balance sheet
date. As at September 30, 2025, the Company reassessed the fair value of the DSUs at $677,426 and recorded the amount as a DSU liability
(December 31, 2024 - $941,664).

    23

Notes
to the Unaudited Condensed Interim Consolidated Financial Statements

For
the three and nine months ended September 30, 2025 and 2024

(Expressed
in Canadian dollars)

12.
RELATED PARTY TRANSACTIONS

The
following amounts due to related parties are included in trade payables and accrued liabilities (Note
7).

SCHEDULE
OF RELATED PARTY TRANSACTIONS

    September 30, 2025 $  
    December 31, 2024 $ 

    Directors and officers of the Company 
     11,500  
     1,259,665 
  
    Total 
     11,500  
     1,259,665 

Included
in the amounts due to related parties at December 31, 2024, is $1,168,729 due to the Company’s former Chief Executive Officer related
to his departure from the Company and is payable in equal monthly installments of $48,697 until December 31, 2026. The former Chief Executive
Officer was not considered a related party at September 30, 2025.

These
amounts are unsecured, non-interest bearing and have 30-day fixed terms of repayment with the exception