Company: ALM
Filing Date: 2025-07-11
Form Type: F-10/A
Source: 0001641172-25-018741
Chunk: 27

Company: Almonty Industries Inc.
Filing Date: 2025-07-11
Form: F-10/A
Chunk 27
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 Korea, Spain, and Portugal, could impact the Company’s cash flow and financial reporting.

The Company also
enters into transactions and arrangements in the ordinary course of business in which the tax treatment is not entirely certain. The
Company must therefore make estimates and judgments in determining its consolidated tax provision. The final outcome of any audits by
taxation authorities may differ from estimates and assumptions used in determining the consolidated tax provisions and accruals. This
could result in a material effect on income tax provision, financial position and the net income/loss for the period in which such determinations
are made. See “Risks Related to Almonty’s Redomiciling to the United States—Canadian Corporate Tax Risk.”

Default Risk

The Company’s term loans and convertible
debentures include various positive and negative covenants as well as cross-default clauses. Events beyond the Company’s control,
including changes in general economic and business conditions and global health crisis or pandemics may affect the Company’s ability
to satisfy these covenants, which could cause several defaults in the event the Company is in default on any of its loan agreements.

In addition, as
of the date of this prospectus, the Company has pledged certain of its assets as security in order to obtain additional capital through
loans.

Should Almonty fail
to comply with its covenants, pay any outstanding amount or remedy an event of default (as defined under the loan agreements), the lender
may, among other things, have the right to demand immediate repayment of the outstanding debt or to seize and dispose of the secured
assets.

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Future Financing

The success of
exploration programs, development programs and other transactions related to concessions could have a significant impact on the need
for capital. If Almonty decides to develop one of its properties, it must ensure that it has access to the required capital. The Company
could finance its need for capital by using working capital, by arranging partnerships or other arrangements with other companies, through
equity financing, by taking on short-term and/or long-term debt or any combination thereof. To fund its future growth plans, the Company
may become dependent on securing the necessary capital through loans or permanent capital. The availability of this capital is subject
to general economic conditions and lender and investor interest in the Company’s projects and there can be no assurance that additional
capital or financing will be available if needed or that, if available, the terms of such financings will be acceptable to the Company