Company sells 5.6 million shares at C$0.35 apiece, a 9.38% premium
By Devika Patel
Knoxville, Tenn., Aug. 12 – Almonty Industries Inc. said it plans a C$1.96 million private placement of stock. Somers and Partners Pty Ltd. is the lead manager.
The company will sell 5.6 million common shares at C$0.35 per share. The price per share reflects a 9.38% premium to C$0.32, the closing share price on Aug. 11.
Proceeds will be used for working capital and general corporate purposes and the acquisition of ATC Alloys Ltd.
The Toronto company mines, processes and ships tungsten concentrate from its Los Santos Mine in Spain and its Wolfram Camp Mine in Queensland, Australia.
| Issuer: | Almonty Industries Inc.
|
| Issue: | Common stock
|
| Amount: | C$1.96 million
|
| Shares: | 5.6 million
|
| Price: | C$0.35
|
| Warrants: | No
|
| Lead manager: | Somers and Partners Pty Ltd.
|
| Settlement date: | Aug. 12
|
| Stock symbol: | TSX Venture: AII
|
| Stock price: | C$0.32 at close Aug. 11
|
| Market capitalization: | C$33.49 million
|
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