RE:RE:RE:RE:RE:How big is the dealUggh...another Placement, not the one we wanted:
Successful Placement of CDI’s raises A$3.5 million Toronto – 21 March 2023 - Almonty Industries Inc. (“Almonty” or the “Company”) (TSX: AII / ASX: AII / OTCQX: ALMTF / Frankfurt: ALI) is pleased to announce that the Company has received firm commitments, primarily from existing Australian institutional investors, to raise gross proceeds of A$3.5 million via the issue of 4,861,111 million Chess Depository Interests (“CDIs”) at A$0.72 per CDI (“Placement”). Each Placement participant will be issued with one (1) free unlisted option for every one (1) CDI issued, exercisable at A$1.25 with an expiry date of 31 December 2024 (“Options”). Proceeds from the Placement will be applied towards repayment of a convertible note (for which the lender was not able to extend the debt instrument due to previous commitments), general working capital and offer costs. The issue price of A$0.72 is equal to the last price of Almonty on 17 March 2023 of A$0.72. The Placement CDI’s and Options are expected to settle on or about Monday 27 March 2023. The Placement CDI’s issued 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. RM 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.