Company: ALM
Filing Date: 2025-07-07
Form Type: F-10
Source: 0001641172-25-017947
Chunk: 189

Company: Almonty Industries Inc.
Filing Date: 2025-07-07
Form: F-10
Chunk 189
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 U.S. Holders

U.S.
Federal Income Tax Considerations Prior to the Domestication

Distributions

Subject to the discussion
below under the heading “Passive Foreign Investment Company Considerations Prior to the Domestication”, the gross
amount of any distribution made by us will generally be subject to U.S. federal income tax as dividend income to the extent paid out
of our current or accumulated earnings and profits, as determined under U.S. federal income tax principles, without reduction for any
Canadian income tax we may be required to withhold from such distributions under Canadian law. Such amount will be includable in a U.S.
Holder’s gross income on the date that the distribution is actually or constructively received in accordance with the U.S. Holder’s
regular method of accounting for U.S. federal income tax purposes. The amount of any distribution made by us in property other than cash
will be equal to the fair market value of such property on the date of the distribution.

To the extent that
a distribution exceeds the amount of our current and accumulated earnings and profits, as determined under U.S. federal income tax principles,
it will be treated first as a tax-free return of capital, causing a reduction in a U.S. Holder’s adjusted tax basis in its Common
Shares (thereby increasing the amount of gain, or decreasing the amount of loss, to be recognized upon a subsequent disposition of Common
Shares), with any amount that exceeds the U.S. Holder’s adjusted tax basis being taxed as a capital gain recognized on a sale,
exchange or other taxable disposition of the Common Shares (as discussed below). However, we do not intend to maintain calculations of
our earnings and profits in accordance with U.S. federal income tax principles. Therefore, U.S. Holders should assume that any distribution
by us with respect to our Common Shares will be treated as dividends for U.S. federal income tax purposes.

Dividends received
by non-corporate U.S. Holders (including individuals) from a “qualified foreign corporation” may be eligible for reduced
rates of taxation, provided that certain holding period requirements and other conditions are satisfied. A non-U.S. corporation will
be treated as a “qualified foreign corporation” with respect to dividends it pays on shares of its stock that are readily
tradable on an established securities market in the United States. U.S. Treasury guidance indicates that shares listed on the NASDAQ
will be considered readily tradable on an established securities market in the United States. We have