News Released on ASXhttps://newswire.iguana2.com/af5f4d73c1a54a33/aii.asx/6A1077955/AII_Successful_Placement_by_Institutional_Investor
Successful Placement of CDIs following approach by Institutional Investor Toronto – 21 February 2022 - Almonty Industries Inc. (“Almonty” or the “Company”) (TSX: AII / ASX: AII / OTCQX: ALMTF / Frankfurt: ALI) is pleased to announce that following the recent announcement in relation to the imminent drawdown of the KfW loan to fund construction of the Sangdong Tungsten Mine (refer ASX / TSX announcement 7 February 2022), the Company has been approached and received firm commitments from an institutional investor who wanted to increase their stake in Almonty, to raise gross proceeds of A$1.5 million via the issue of 1.5 million Chess Depository Interests (“CDIs”) at A$1.00 per CDI (“Placement”).
Proceeds from the Placement will be applied towards the payment of various financing fees to enable the drawdown of the KfW US$75.1 million loan facility and general working capital. The issue price of A$1.00 is Almonty’s last traded price on ASX on 18 February 2022. The Placement CDI’s are expected to settle on Monday 28 February 2022. The Placement CDI’s issued under the Placement will rank equally with existing CDI’s and Common Shares on issue. The closing of the Placement is subject to receipt of all necessary regulatory approvals, including the acceptance by the TSX and ASX. Lazarus Corporate Finance Pty Ltd acted as Lead Manager to the Placement and will be paid a total fee of 6% of the gross proceeds raised in the Placement. Current Almonty Director Mr Andrew Frazer is also the managing director of Lazarus, the Lead Manager for the Placement.