Almonty Industries Secures Firm Commitments for C$500,000 Placement to Support Growth Initiatives

Almonty Industries Inc., a leading mining company specializing in tungsten concentrate, is pleased to announce that it has received firm commitments to raise gross proceeds of C$500,000 through a placement offering. The funds will be raised through the issuance of 3,333,333 Placement Units and 1,078,433 Placement Chess Depository Interests Units at favorable prices.

Lewis Black, the CEO of Almonty, has shown his confidence in the company’s growth prospects by investing C$500,000 in the placement. Additionally, Dan D’Amato, a director of the company, will be investing US$366,666.63. This demonstrates the strong belief in the company’s potential.

The proceeds from the placement will be utilized for general working capital and offer costs, further strengthening Almonty’s financial position. The placement units and CDIs issued will rank equally with existing CDIs and common shares on issue, ensuring fairness for all shareholders.

Almonty’s CEO, Lewis Black, and Director Daniel D’Amato’s participation in the private placement is considered a related party transaction. However, the company will rely on exemptions from the formal valuation and minority shareholder approval requirements, as the insiders’ participation will not exceed 25% of the fair market value of the company’s market capitalization.

The closing of the placement is subject to regulatory approvals, including acceptance by the TSX and ASX. RM Corporate Finance Pty Ltd acted as the lead manager to the placement and will be paid a total fee of 6% of the gross proceeds raised from the placement CDIs.

Almonty Industries Inc. is primarily engaged in mining, processing, and shipping tungsten concentrate from its mines in Spain, Portugal, and South Korea. The company also has a tin/tungsten project in Spain. With a strong portfolio of assets and a commitment to sustainable mining practices, Almonty is well-positioned for future growth.

For more information about Almonty and its activities, please visit www.almonty.com and Almonty’s profile at www.sedar.com.