Almonty Industries Inc. (“Almonty” or the “Company”) (TSX: AII / OTCQX: ALMTF / Frankfurt: ALI.F) announces that the Plansee Group has concluded the agreement to purchase 10,587,056 shares at $1.06 from Lewis Black as part of the previously contemplated transaction announced in December 2020. This transaction provided Almonty with both a US$20m cost overrun guarantee dedicated to the construction of the Sangdong project and a further non-dilutive US$10m guarantee to cover the DRSA (reserve account) required by KfW IPEX Bank as a condition of the loan to replace the more normal cash equity that would have had to be provided otherwise and represented one third of the total equity required.
Lewis Black and the Plansee Group Conclude Share Sale/Purchase Prior to KfW IPEX Bank Financial Close for the Construction of the Sangdong Tungsten Mine
Apr 20, 2021
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