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Home>Almonty Announces Signing of Subscription Agreement with JP Morgan Asset Management (UK) Ltd for $2.7 Million Private Placement Financing of Common Shares

Almonty Announces Signing of Subscription Agreement with JP Morgan Asset Management (UK) Ltd for $2.7 Million Private Placement Financing of Common Shares

Almonty Announces Signing of Subscription Agreement with JP Morgan Asset Management (UK) Ltd for $2.7 Million Private Placement Financing of Common Shares

09/27/2017

Almonty Announces Signing of Subscription Agreement with JP Morgan Asset Management (UK) Ltd for $2.7 Million Private Placement Financing of Common Shares

Almonty Industries Inc. (“Almonty”) (TSXV: AII):

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED STATES

Almonty Industries Inc. (“Almonty”) (TSXV: AII) announces that it has entered into a subscription agreement with JP Morgan Asset Management (UK) Ltd (“JPAM”) pursuant to which JPAM will subscribe for 5,000,000 common shares at a price of CAD$0.54 per common share for gross proceeds to Almonty of CAD$2,700,000 (the “Placement”).

This private placement is to maintain JPAM’s ownership of Almonty’s issued and outstanding common shares at between 9% and 10% following various issuances of common shares to other parties since JPAM last subscribed for Almonty common shares in August 2016.

Closing of the Placement is subject to the approval of the TSX Venture Exchange and is expected to occur on or about September 29, 2017.

All securities issued pursuant to the Placement are subject to resale restrictions for a period of four months and a day as prescribed by the TSX Venture Exchange and applicable securities laws.

The company will pay a commission equal to 4% (CDN$108,000) of the gross proceeds raised to Somers and Partners Pty Ltd.

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