Company: ALM
Filing Date: 2025-07-07
Form Type: F-10
Source: 0001641172-25-017947
Chunk: 199

Company: Almonty Industries Inc.
Filing Date: 2025-07-07
Form: F-10
Chunk 199
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 Code (as discussed below), and (ii) the holding
period for a New Almonty Share deemed to be received by a U.S. Holder will include such U.S. Holder’s holding period for the Common
Share deemed to be surrendered in exchange therefor. U.S. Holders who acquired different blocks of Common Shares at different times or
different prices should consult their own tax advisors as to the determination of the tax bases and holding periods of the New Almonty
Shares deemed to be received in the Domestication.

If the Domestication
does not qualify as an F Reorganization, a U.S. Holder generally would, subject to the potential application of the PFIC rules, recognize
gain or loss with respect to its Common Share in an amount equal to the difference between the fair market value of the New Almonty Shares
deemed to be received in the Domestication and the U.S. Holder’s adjusted tax basis in such holder’s Common Shares deemed
to be surrendered in the Domestication. In such event, such U.S. Holder’s basis in the New Almonty Shares would be equal to the
fair market value of such stock on the date of the Domestication, and such U.S. Holder’s holding period for the New Almonty Shares
would begin on the day following the date of the Domestication.

Effects
of Section 367 on the Domestication

Section 367 of the
Code applies to certain non-recognition transactions involving foreign corporations and has the effect of imposing U.S. income tax on
certain U.S. persons in connection with transactions that would otherwise be tax-free. Section 367(b) of the Code would apply to Domestication
under the circumstances discussed below if the Domestication otherwise qualifies as an F Reorganization.

U.S. Holders
that own Common Shares with a fair market value of less than $50,000

A U.S. Holder who,
at the time of the Domestication, beneficially owns Common Shares with a fair market value of less than $50,000 should not be required
to recognize any income or gain under Section 367(b) of the Code in connection with the Domestication.

U.S. Holders
that own shares of Common Shares with a fair market value of $50,000 or more (but are not 10% U.S. Holders)

A U.S. Holder who,
at the time of the Domestication, is not a 10% U.S. Holder and beneficially owns