RE:New Press Release - Almonty Receives Further and Final Commitments Under Previously Announced Placement; Manages Dundee Resources Limited's Divestment of Almonty HoldingThis part of the News Release is huge for us.
The Company further announces that, in conjunction with the conversion in January 2024 by Dundee Resources Ltd. (“Dundee”) of its entire holdings of long-term debt plus related accrued interest with Almonty, at the conversion price of Cdn$0.90 per share, the Company issued approximately 10.25 million common shares to Dundee. Dundee has been divesting investments, including its holdings in Almonty, and the Company wishes to thank Dundee for allowing us to manage the sale process of their shares and to thank our existing shareholders for absorbing all of them – thus eliminating their overhang on the Company’s stock.