Trading on the Nasdaq Expected to Commence Today Under the Ticker "ALM"
TORONTO - July 14, 2025 - Almonty Industries Inc. ("Almonty" or the "Company") (TSX: AII) (ASX: AiiDA) (OTCQX: ALMTF) (Frankfurt: ALI1), a leading global producer of tungsten concentrate, announced today the pricing of its underwritten public offering in the United States of 20,000,000 common shares ("Common Shares") at a public offering price of US$4.50 per Common Share, for total gross proceeds of US$90 million(the "Offering"). In connection with the Offering, the Company has granted the Underwriters (as defined below) a 30-day over-allotment option to purchase up to an additional 3,000,000 Common Shares at the public offering price, less the underwriting discount.
Oppenheimer & Co. and Cantor are acting as Joint Bookrunners for the offering, D.A. Davidson & Co. is acting as Lead Manager and Scotiabank as Co-Manager (collectively, the "Underwriters").
Lewis Black, Chief Executive Officer of Almonty, commented:
"We are pleased to announce the pricing of our oversubscribed public offering, which concurrently marks our uplisting to the Nasdaq. Our U.S. listing also reflects our emerging status as America's tungsten supplier, further supported by our ongoing redomiciling initiatives. The capital from this offering funds the development of our Sangdong tungsten oxide facility, enabling Almonty to continue to rise in prominence as a leading supplier of tungsten for the defense needs of the U.S. and its allies."
The Offering is expected to close on or about July 15, 2025, subject to the satisfaction of customary closing conditions, including the listing of the Common Shares sold under the Offering on the Toronto Stock Exchange (the "TSX"). The Common Shares are currently, and following the Offering will continue to be, listed on the TSX under the symbol "All" and the Australian Securities Exchange (the "ASX") under the symbol "AiiDA", and are, and will continue to be, traded on the Frankfurt Stock Exchange.
The Common Shares are expected to commence trading on the Nasdaq Capital Market (the "Nasdaq") on July 14, 2025 under the ticker symbol "ALM". Pending the commencement of trading of the Common Shares on the Nasdaq, trading of the Common Shares on the OTCQX was suspended at the close of markets on July 11, 2025.
The Company intends to use the net proceeds of the Offering primarily to fund the development of its tungsten oxide facility and for working capital and other general corporate purposes.
The Offering is being made in the United States pursuant to a registration statement (the "Registration Statement") containing a final base PREP prospectus prepared in accordance with National Instrument 44-101 - Short Form Prospectus Distributions ("NI 44-101") and National Instrument 44-103 - Post-Receipt Pricing ("NI 44-103") filed with the Ontario Securities Commission, the review jurisdiction in Canada, and the U.S. Securities and Exchange Commission pursuant to the Canada/United States Multi-Jurisdictional Disclosure System, as supplemented by a supplemented PREP prospectus prepared pursuant to NI 44-101 and NI 44-103 containing the final pricing and related information (the "Supplemented PREP Prospectus"). The Registration Statement and the Supplemented PREP Prospectus contain important detailed information relating to the Offering and the Common Shares.
The Registration Statement can be found on SEDAR+ at www.sedarplus.ca and on EDGAR at www.sec.gov. Prospective investors located outside of Canada may request copies of the Registration Statement from the Company by telephone at +1 (647) 438-9766 or by email at info@almonty.com, or from Oppenheimer & Co. Inc., Attention: Syndicate Prospectus Department, 85 Broad Street, 26th Floor, New York, New York 10004, or by telephone at (212) 667-8563, or by email at equityprospectus@opco.com; Cantor Fitzgerald & Co., Attention: Capital Markets, 110 East 59th Street, 6th Floor, New York, New York 10022, or by email at prospectus@cantor.com; D.A. Davidson & Co., 757 Third Avenue, Suite 1902, New York, New York 10017, or by email at prospectusrequest@dadco.com; or Scotia Capital (USA) Inc., 250 Vesey Street, 24th Floor, New York, New York 10281, Attention: Equity Capital Markets, or by telephone at (212) 255-6854, or by email at us.ecm@scotiabank.com, or Scotiabank in Canada, 40 Temperance Street, 6th Floor, Toronto, Ontario M5H 0B4, Attention: Equity Capital Markets, by email at equityprospectus@scotiabank.com or by telephone at (416) 863-7704. Prospective investors should read the Registration Statement and the other documents the Company has filed before making an investment decision.
No regulatory authority has either approved or disapproved the contents of this news release. This news release does not constitute an offer to sell or the solicitation of an offer to buy Common Shares, nor shall there be any sale of Common Shares in any state, province, territory or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state, province, territory or jurisdiction. The Offering will be made in the United States only by means of the Registration Statement. Any offering of the Common Shares in other jurisdictions will be made on a private placement basis in accordance with applicable laws. Any offers, solicitations or offers to buy, or any sales of Common Shares will be made in accordance with the requirements of the Securities Act of 1933, as amended, and otherwise in accordance with applicable securities laws in any other jurisdiction.
TORONTO - July 14, 2025 - Almonty Industries Inc. ("Almonty" or the "Company") (TSX: AII) (ASX: AiiDA) (OTCQX: ALMTF) (Frankfurt: ALI1), a leading global producer of tungsten concentrate, announced today the pricing of its underwritten public offering in the United States of 20,000,000 common shares ("Common Shares") at a public offering price of US$4.50 per Common Share, for total gross proceeds of US$90 million(the "Offering"). In connection with the Offering, the Company has granted the Underwriters (as defined below) a 30-day over-allotment option to purchase up to an additional 3,000,000 Common Shares at the public offering price, less the underwriting discount.
Oppenheimer & Co. and Cantor are acting as Joint Bookrunners for the offering, D.A. Davidson & Co. is acting as Lead Manager and Scotiabank as Co-Manager (collectively, the "Underwriters").
Lewis Black, Chief Executive Officer of Almonty, commented:
"We are pleased to announce the pricing of our oversubscribed public offering, which concurrently marks our uplisting to the Nasdaq. Our U.S. listing also reflects our emerging status as America's tungsten supplier, further supported by our ongoing redomiciling initiatives. The capital from this offering funds the development of our Sangdong tungsten oxide facility, enabling Almonty to continue to rise in prominence as a leading supplier of tungsten for the defense needs of the U.S. and its allies."
The Offering is expected to close on or about July 15, 2025, subject to the satisfaction of customary closing conditions, including the listing of the Common Shares sold under the Offering on the Toronto Stock Exchange (the "TSX"). The Common Shares are currently, and following the Offering will continue to be, listed on the TSX under the symbol "All" and the Australian Securities Exchange (the "ASX") under the symbol "AiiDA", and are, and will continue to be, traded on the Frankfurt Stock Exchange.
The Common Shares are expected to commence trading on the Nasdaq Capital Market (the "Nasdaq") on July 14, 2025 under the ticker symbol "ALM". Pending the commencement of trading of the Common Shares on the Nasdaq, trading of the Common Shares on the OTCQX was suspended at the close of markets on July 11, 2025.
The Company intends to use the net proceeds of the Offering primarily to fund the development of its tungsten oxide facility and for working capital and other general corporate purposes.
The Offering is being made in the United States pursuant to a registration statement (the "Registration Statement") containing a final base PREP prospectus prepared in accordance with National Instrument 44-101 - Short Form Prospectus Distributions ("NI 44-101") and National Instrument 44-103 - Post-Receipt Pricing ("NI 44-103") filed with the Ontario Securities Commission, the review jurisdiction in Canada, and the U.S. Securities and Exchange Commission pursuant to the Canada/United States Multi-Jurisdictional Disclosure System, as supplemented by a supplemented PREP prospectus prepared pursuant to NI 44-101 and NI 44-103 containing the final pricing and related information (the "Supplemented PREP Prospectus"). The Registration Statement and the Supplemented PREP Prospectus contain important detailed information relating to the Offering and the Common Shares.
The Registration Statement can be found on SEDAR+ at www.sedarplus.ca and on EDGAR at www.sec.gov. Prospective investors located outside of Canada may request copies of the Registration Statement from the Company by telephone at +1 (647) 438-9766 or by email at info@almonty.com, or from Oppenheimer & Co. Inc., Attention: Syndicate Prospectus Department, 85 Broad Street, 26th Floor, New York, New York 10004, or by telephone at (212) 667-8563, or by email at equityprospectus@opco.com; Cantor Fitzgerald & Co., Attention: Capital Markets, 110 East 59th Street, 6th Floor, New York, New York 10022, or by email at prospectus@cantor.com; D.A. Davidson & Co., 757 Third Avenue, Suite 1902, New York, New York 10017, or by email at prospectusrequest@dadco.com; or Scotia Capital (USA) Inc., 250 Vesey Street, 24th Floor, New York, New York 10281, Attention: Equity Capital Markets, or by telephone at (212) 255-6854, or by email at us.ecm@scotiabank.com, or Scotiabank in Canada, 40 Temperance Street, 6th Floor, Toronto, Ontario M5H 0B4, Attention: Equity Capital Markets, by email at equityprospectus@scotiabank.com or by telephone at (416) 863-7704. Prospective investors should read the Registration Statement and the other documents the Company has filed before making an investment decision.
No regulatory authority has either approved or disapproved the contents of this news release. This news release does not constitute an offer to sell or the solicitation of an offer to buy Common Shares, nor shall there be any sale of Common Shares in any state, province, territory or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state, province, territory or jurisdiction. The Offering will be made in the United States only by means of the Registration Statement. Any offering of the Common Shares in other jurisdictions will be made on a private placement basis in accordance with applicable laws. Any offers, solicitations or offers to buy, or any sales of Common Shares will be made in accordance with the requirements of the Securities Act of 1933, as amended, and otherwise in accordance with applicable securities laws in any other jurisdiction.
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