Company: ALM
Filing Date: 2025-07-11
Form Type: F-10/A
Source: 0001641172-25-018741
Chunk: 208

Company: Almonty Industries Inc.
Filing Date: 2025-07-11
Form: F-10/A
Chunk 208
---
 us or the Underwriters; (iii) is not,
and is not deemed to be resident in Canada; (iv) has not entered into a “derivative forward agreement” (as defined in the
Tax Act) with respect to the Common Shares; and (v) does not use or hold and will not be deemed to use or hold, the Common Shares in
the course of carrying on or otherwise in connection with a business carried on in Canada (a “Non-Resident Holder”).
Generally, our Common Shares will be considered to be capital property to a Non-Resident Holder provided the Non-Resident Holder does
not hold our Common Shares in the course of carrying on a business of trading or dealing in securities and has not acquired them in one
or more transactions considered to be an adventure or concern in the nature of trade. Special rules, which are not discussed in this
summary, may apply to a Non-Resident Holder that is an “authorized foreign bank” as defined in the Tax Act or an insurer
that carries on an insurance business in Canada and elsewhere. Such Non-Resident Holders should seek advice from their own tax advisors.

This summary is based
upon the provisions of the Tax Act in force as of the date hereof, all specific proposals (the “Proposed Amendments”),
to amend the Tax Act that have been publicly and officially announced by or on behalf of the Minister of Finance (Canada) prior to the
date hereof and counsels’ understanding of the current administrative policies and practices of the Canada Revenue Agency (“CRA”),
published in writing by it prior to the date hereof. This summary assumes the Proposed Amendments will be enacted in the form proposed.
However, no assurance can be given that the Proposed Amendments will be enacted in their current form, or at all. This summary is not
exhaustive of all possible Canadian federal income tax considerations and, except for the Proposed Amendments, does not take into account
or anticipate any changes in the law or any changes in the CRA’s administrative policies or practices, whether by legislative,
governmental or judicial action or decision, nor does it take into account or anticipate any other federal or any provincial, territorial
or foreign tax considerations, which may differ significantly from those discussed herein.

Non-Resident Holders should consult their own tax advisors with respect to an investment in our Common Shares. This summary is of a general nature only and is not intended to be, nor should it be construed to be, legal