Almonty Industries Inc. (“Almonty” or the “Company”) (TSX: AII / ASX: AII / OTCQX: ALMTF / Frankfurt: 1MR) announces it has completed the second tranche of its non-brokered private placement of unsecured convertible debentures in the aggregate approximate principal amount of CDN$3,914,000 (the “Debenture Offering”). All securities issued pursuant to the Debenture Offering are subject to resale restrictions for a period of four months expiring on March 23, 2023. Almonty intends to use the net proceeds of the Debenture Offering for general working capital and financing costs of the Sangdong Mine in South Korea.
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