Company: ALM
Filing Date: 2025-07-07
Form Type: F-10
Source: 0001641172-25-017947
Chunk: 21

Company: Almonty Industries Inc.
Filing Date: 2025-07-07
Form: F-10
Chunk 21
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 or interim financial statements will occur and not be detected by management before the financial statements
are published. Controls can potentially be circumvented by the individual acts of some persons, by collusion of two or more people or
by management override of the control. The design of any system of controls is also based on part upon certain assumptions about the
likelihood of future events, and there can be no assurance that any design will succeed in achieving its stated goals under all potential
future conditions. Over time, control may become inadequate because of changes in conditions, or the degree of compliance with the policies
or procedures may deteriorate. Because of the inherent limitations in a cost-effective control system, misstatements due to error or
fraud may occur and not be detected.

In light of the
aforementioned material weakness, management conducted a thorough review of all significant or non-routine adjustments for the fifteen
months ended December 31, 2019, for the year ended December 31, 2020, for the year ended December 31, 2021, for the year ended December
31, 2022, for the year ended December 31, 2023, for the year ended December 31, 2024 and for the three months ended March 31, 2025. As
a result of this review, management believes that there were no material inaccuracies or omissions of material fact and, to the best
of its knowledge, believes that the consolidated financial statements for the fifteen months ended December 31, 2019, for the year ended
December 31, 2020, for the year ended December 31, 2021, for the year ended December 31, 2022, for the year ended December 31, 2023,
for the year ended December 31, 2024 and for the three months ended March 31, 2025 fairly present in all material respects and the financial
condition and results of operations for the Company in conformity with IFRS.

The Company cannot
be certain that all material weaknesses in its disclosure control and procedures and internal control over financial reporting have been
identified, and, as such, the Company continues to evaluate and, as necessary, implement additional remediation measures. The Company’s
current controls and procedures and any new controls and procedures that we develop may also become inadequate because of various factors,
including changes in our business and increased complexity resulting from any international expansion. Any failure to develop or maintain
effective controls and procedures