Company: PRMLF
Filing Date: 2025-05-13
Form Type: 10-Q
Source: 0001641172-25-010011
Chunk: 144

Company: NexMetals Mining Corp.
Filing Date: 2025-05-13
Form: 10-Q
Item: Item 5
Chunk 144
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” securities proposed to be sold by EdgePoint in favor of the Company in certain
circumstances.

The foregoing description of the Investor Rights Agreement
is qualified in its entirety by reference to the full text of the Investor Rights Agreement, which is attached as Exhibit 10.3 to this
Report and is incorporated by reference herein.

All securities issued under the Debt Conversion are
subject to a hold period of four months plus one day from the date of issuance in accordance with applicable Canadian securities laws
and the policies of the Exchange.

On March 18, 2025, the Company closed the Private
Placement. The Private Placement consisted of issuing 153,333,334 Private Placement
Units of the Company at a price of $0.30 per Private Placement Unit for aggregate gross proceeds of $46,000,000. Each Private Placement
Unit consists of one Common Share of the Company and one-half of one Private Placement Warrant of the Company. Each Private Placement
Warrant entitles the holder to acquire one additional Common Share at a price of $0.55 per share until March 18, 2028.

In connection
with the above transactions, the Company issued: (i) 4,000,000 Common Shares to TriView for its services as finder; (ii) 9,000,000 Common
Shares to Fiore and 3,750,000 Common Shares to Bowering for certain advisory services; and (iii) 3,586,709 Common Shares to a financial
advisor for financial advisory services.

    Item 3.02
    Unregistered Sales of Equity Securities

The information set forth under Item 1.01 is incorporated
herein by reference to the extent responsive to Item 3.02. The securities issued were not registered under the Securities Act, and were
issued in reliance on the exemption from registration pursuant to Section 4(a)(2), Regulation S or Rule 506 thereunder.

The information set forth under Part II, Item 2 of
this Report is also incorporated by reference herein.

    Item 5.02 
    Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

On March 20, 2025 Morgan Lekstrom, age 40,
was appointed as the Company’s Chief Executive Officer and a director. There are no arrangements or understandings between Mr. Lekstrom
and any other person pursuant to which Mr. Lekstrom was selected