Company: ALM
Filing Date: 2025-07-07
Form Type: F-10
Source: 0001641172-25-017947
Chunk: 81

Company: Almonty Industries Inc.
Filing Date: 2025-07-07
Form: F-10
Chunk 81
---
 approved by the holders
of Common Shares of the Company, the Board may, without further notice to or approval of the Company’s shareholders, decide not
to proceed with the Arrangement. It is notably possible that, if the Board is, among other factors, not satisfied with the anticipated
Canadian tax consequences of the Arrangement, it may not proceed with the Arrangement. See “Risk Factors—Risks Related to Almonty’s Redomiciling to the United States”.

| 46 |

Recent Developments

On July 7, 2025, the Company announced the filing
by the Company of a voluntary request for trading halt on the ASX following the filing by the Company of the Technical Report (as defined
hereunder) related to the Sangdong Mine to allow the preparation and filing in Australia of a version of the Technical Report compliant
with the Australasian Code for Reporting of Exploration Results, Minerals Resources and Ore Reserves (2012). The voluntary trading halt
only applies to CDIs traded on the ASX.

On July 3, 2025, the
Company announced that, following a reassessment of its mining portfolio conducted by the Company, the Company concluded that, on the
basis of its current strategy, including management’s focus and the deployment of resources on the Sangdong Mine and the expected
economic importance to the Company of the expected production at Phase I relative to its other properties, as well as the expected timing
and significant potential production increase of Phase II, the Sangdong Mine is the only mineral project on a property that is material
to the Company for the purposes of NI 43-101. In connection with the reassessment, the Company filed the Technical Report (as defined
hereunder) related to the Sangdong Mine.

On July 3, 2025,
Almonty effected a 1.5-to-1 consolidation of our Common Shares and it is expected that our Common
Shares will commence trading on a post-consolidated basis on July 7, 2025. The Share Consolidation was approved by our shareholders on
April 30, 2025 at our annual general and special meeting of shareholders. Except where otherwise noted, all information in this prospectus
and the documents incorporated by reference dated on or after the date of the Share Consolidation give pro forma effect to the Share
Consolidation. See “Description of Share Capital—Share Consolidation”.

On June 30, 2025, Almonty
announced that