Almonty Industries Raises C$1.47M for Tungsten and Moly Planning

e of $0.75 for a period of 24 months from the closing date.

The funds raised from this private placement will be used to support the continued development of Almonty’s flagship Sangdong tungsten mine in South Korea, as well as for general working capital purposes. The Sangdong mine is one of the largest tungsten deposits in the world and is expected to become a significant source of tungsten supply once production begins.

Almonty’s President and CEO, Lewis Black, commented on the successful closing of the private placement, stating that “we are pleased to have completed this financing, which will allow us to continue advancing our Sangdong project towards production. With the ongoing support of our investors, we are confident in the future success of Almonty and the valuable contribution that the Sangdong mine will make to the global tungsten market.”

Tungsten is a critical metal used in a wide range of industrial applications, including the production of steel, electronics, and aerospace components. As one of the few tungsten producers outside of China, Almonty is well positioned to meet the growing demand for this essential metal.

Investors who participated in the private placement have shown confidence in Almonty’s ability to develop and operate the Sangdong mine successfully. With a strong management team and a clear strategy for growth, Almonty is poised to become a leading player in the global tungsten market.

In conclusion, Almonty Industries Inc. has successfully closed a non-brokered private placement, raising funds to support the development of its Sangdong tungsten mine in South Korea. With the support of its investors, Almonty is well positioned to become a significant player in the global tungsten market. Investors interested in the potential growth of the tungsten industry may consider Almonty as a valuable investment opportunity.

For more information on Almonty Industries Inc. and its projects, please visit the Company’s website at http://www.almonty.com.

Lewis Black, President and CEO
Almonty Industries Inc.
Telephone: (647) 438-9766
Email: lewis.black@almonty.com

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