NexMetals Announces Effective Date of Share Consolidation

Rhea-AI Summary

NexMetals Mining Corp. (TSXV: NEXM) (OTC: PRMLF) has announced a 20:1 share consolidation effective June 20, 2025. The consolidation is being implemented to meet Nasdaq's initial listing requirements, which mandate a minimum bid price of US$4.00 per share. Post-consolidation, the company will have approximately 21,449,317 common shares outstanding. The company's name and trading symbol will remain unchanged, though new CUSIP (65346E204) and ISIN (CA65346E2042) numbers will be assigned. Registered shareholders will receive instructions from Computershare Investor Services Inc. regarding the exchange of share certificates, while beneficial shareholders holding shares through brokers need not take action.

Positive

• Planned uplisting to Nasdaq could provide increased visibility and trading liquidity
• Share consolidation helps meet Nasdaq listing requirements
• Strategic move to access larger capital markets through Nasdaq listing

Negative

• 20:1 share consolidation will significantly reduce the number of outstanding shares
• Potential short-term trading volatility during consolidation transition
• Share consolidation does not inherently increase company value

Toronto, Ontario--(Newsfile Corp. - June 18, 2025) - NexMetals Mining Corp. (TSXV: NEXM) (OTC Pink: PRMLF) (formerly Premium Resources Ltd.) ("NEXM" or the "Company") announces that the Company will consolidate its common shares on the basis of twenty (20) pre-consolidated shares for every one (1) post-consolidation share (the "Consolidation"). The Consolidation is subject to final approval of the TSX Venture Exchange (the "TSXV") and is expected to take effect at market open on June 20, 2025 (the "Effective Date").

In connection with the Company's proposed listing on the Nasdaq Stock Market LLC ("Nasdaq"), the Company is undertaking the Consolidation in order to satisfy Nasdaq's initial listing requirements, which include a minimum bid price of US$4.00 per share.

Following the Consolidation, the Company will have approximately 21,449,317 common shares issued and outstanding. Any fractional post-Consolidation share that is less than one-half (1/2) of a share will be cancelled and any fractional post-Consolidation share that is at least or greater than one-half (1/2) of a share will be rounded up to one whole share. The Company's name and trading symbol will remain unchanged. However, the CUSIP number for the post-Consolidation common shares will be 65346E204 and the new ISIN will be CA65346E2042.

Registered shareholders of record as of the Effective Date who hold physical share certificates will receive a letter of transmittal from the Company's transfer agent, Computershare Investor Services Inc., with instructions on how to exchange their existing share certificates for new share certificates representing post-Consolidation shares. Shareholders whose shares are represented by a direct registration system statement will automatically receive their post-Consolidation shares without any further action. Beneficial shareholders who hold their shares through a broker or other intermediary and do not have shares registered in their own names will not be required to complete a letter of transmittal, but are encouraged to contact their intermediaries if they have any questions.

About NexMetals Mining Corp.

NexMetals Mining Corp. is a mineral exploration and development company that is focused on the redevelopment of the previously producing copper, nickel and cobalt resources mines owned by the Company in the Republic of Botswana.

NexMetals is committed to governance through transparent accountability and open communication within our team and our stakeholders. NexMetals' team brings extensive experience across the full spectrum of mine discovery and development. Collectively, the team has contributed to dozens of projects, including work on the Company's Selebi and Selkirk mines. Senior team members each have on average, more than 20 years of experience spanning geology, engineering, operations, and project development.

For further information about NexMetals Mining Corp., please contact:

Morgan Lekstrom
CEO and Director
morganl@nexmetalsmining.com

Jaclyn Ruptash
V.P., Communications and Investor Relations
jaclyn@nexmetalsmining.com

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Cautionary Note Regarding Forward-Looking Statements:

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.

This news release contains "forward-looking information" within the meaning of applicable Canadian securities legislation based on expectations, estimates and projections as at the date of this news release. Forward-looking information involves risks, uncertainties and other factors that could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. For the purposes of this release, forward-looking information includes, but is not limited to, the timing of the effectiveness of the Consolidation and the Company's application to list on the Nasdaq. These forward-looking statements, by their nature, require the Company to make certain assumptions and necessarily involve known and unknown risks and uncertainties that could cause actual results to differ materially from those expressed or implied in these forward-looking statements. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to: the possibility that the Company's common shares will not begin trading on a consolidated basis on the timing anticipated; delays in obtaining or failures to obtain required governmental or stock exchange approvals, including the approval of the Nasdaq in respect of the Company's listing application; changes in equity markets; and those risks set out in the Company's public disclosure record on SEDAR+ (www.sedarplus.ca) under NEXM's issuer profile. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/255944

FAQ

What is the share consolidation ratio for NexMetals Mining (PRMLF) announced in June 2025?

NexMetals Mining announced a 20:1 share consolidation ratio, meaning every twenty pre-consolidated shares will be converted into one post-consolidation share.

When will NexMetals Mining's (PRMLF) share consolidation take effect?

The share consolidation is expected to take effect at market open on June 20, 2025.

How many shares will NexMetals Mining (PRMLF) have outstanding after the consolidation?

After the consolidation, NexMetals Mining will have approximately 21,449,317 common shares issued and outstanding.

Why is NexMetals Mining (PRMLF) implementing a share consolidation?

NexMetals Mining is implementing the share consolidation to meet Nasdaq's initial listing requirements, which require a minimum bid price of US$4.00 per share.

Do shareholders need to take any action for NexMetals Mining's (PRMLF) share consolidation?

Registered shareholders will receive instructions from Computershare Investor Services Inc., while beneficial shareholders holding shares through brokers do not need to take any action.