Almonty arranges $1.3-million private placement ALMONTY ANNOUNCES $1.3M NON-BROKERED PRIVATE PLACEMENT
Almonty Industries Inc. has arranged a non-brokered private placement, raising gross proceeds of up to $1.3-million through the issuance of up to 2,047,244 units at a price of 63.5 cents per unit. Each unit will be comprised of one common share of the Company and one share purchase warrant with each share purchase warrant entitling the holder to acquire an additional common share of the Company at a price of $0.75 per share for a period of 36 months from the date of closing of the non-brokered private placement.
Proceeds from the private placement will be used to finance the closing costs of the Sangdong Project Financing and for general working capital.
The non-brokered private placement is subject to TSX Exchange approval.