Almonty Industries: Successfully completes $3.5 million raise

Almonty Industries Successfully completes $3.5 million raise

• Almonty Industries (AII) raises $3.5 million via a share placement to fund the repayment of a convertible note, general working capital and other costs
• The company has received “firm commitments” from existing Australian institutional investors to issue more than 4.8 million chess depository interests (CDIs) at 72 cents
• Each placement participant will be issued one free unlisted option for every one CDI purchased, exercisable at $1.25 with an expiry date of December 31, 2024
• The placement CDIs and options are expected to settle on March 27, 2023
• Shares in AII are trading at 72 cents at 12:31 pm AEDT