Company: PRMLF
Filing Date: 2025-08-13
Form Type: 10-Q
Source: 0001493152-25-011913
Chunk: 4

Company: NexMetals Mining Corp.
Filing Date: 2025-08-13
Form: 10-Q
Item: Item 8
Chunk 4
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of operations and comprehensive loss, unaudited condensed interim consolidated statements of cash flows, and the notes to the unaudited
condensed interim consolidated financial statements have been reclassified to conform to the current year presentation. These reclassifications
have no effect on net loss or shareholders’ equity as previously reported. For the three and six months ended June 30, 2024, an
adjustment has been made to reduce share-based compensation by $389,612 and $779,224, respectively, on the face of the unaudited condensed
interim consolidated statement of operations and comprehensive loss, and to increase general and administrative expenses by $266,785
and $533,573, respectively, and to increase general exploration expenses by $122,827 and $245,651, respectively. For the three and six
months ended June 30, 2024, general and administrative expenses were reduced by $1,009,074 and $1,943,414, respectively, with an increase
to general exploration expenses of $923,686 and $1,783,322, respectively, and an increase to investor relations and communications of
$85,388 and $160,092, respectively. For the three and six months ended June 30, 2024, operating cash outflows attributable to the purchase
of spares of $25,505 and $992,311, respectively, were reclassified to investing cash outflows. Trade payables and accruals of $584,364
were reclassified from current to non-current for the year ended December 31, 2024.

 (d) Basis of Consolidation

These
unaudited condensed interim consolidated financial statements include the financial statements of the Company and its wholly-owned subsidiaries
as summarized in the table below. All intercompany transactions, balances, income and expenses are eliminated upon consolidation.

 SCHEDULE OF ITS WHOLLY-OWNED SUBSIDIARIES INCLUDED IN THE CONSOLIDATED FINANCIAL STATEMENTS

    Name of Entity 
    Place of Incorporation 
    Percentage Ownership 
    Functional Currency

    NexMetals Mining Corp. 
    Ontario, Canada 
      
    CAD
  
    NAN Exploration Inc. 
    Ontario, Canada 
    100 
    CAD
  
    PNR Amalco Ltd. 
    Ontario, Canada 
    100 
    CAD
  
    Premium Resources International Ltd. 
    Barbados 
    100 
    USD
  
    Premium Resources Selkirk