Company: ALM
Filing Date: 2025-07-11
Form Type: F-10/A
Source: 0001641172-25-018741
Chunk: 57

Company: Almonty Industries Inc.
Filing Date: 2025-07-11
Form: F-10/A
Chunk 57
---
 on the amount,
if any, by which the fair market value of our property, net of certain liabilities, exceeds the paid-up capital of our issued and outstanding
Common Shares.

The quantum of tax
payable, if any, by the Company upon the Arrangement will depend upon a number of considerations including whether the Company reorganizes
and/or winds up one or more of its subsidiaries prior to the Arrangement becoming effective, the valuation of the Company’s assets,
the amount of its liabilities, its shareholder composition, as well as certain Canadian tax amounts, accounts and balances of the Company,
each as of the time of the Arrangement. There could be material adverse tax consequences that result from the Arrangement or the transactions
completed in relation to the Arrangement in Canada. In addition, it is possible that following the Arrangement, the Canada Revenue Agency
may disagree with the Company’s determination of the fair market value of its properties at the relevant time and/or the Company’s
determination of any of its tax accounts or tax attributes. As a result, the quantum of Canadian tax payable by the Company may materially
exceed the Company’s estimates at that time. Any such adverse tax consequences could materially adversely affect the Company and
its share price. For additional information on the Canadian federal income tax consequences of the Arrangement, see the section entitled
“Certain Canadian Federal Income Tax Considerations Related To The Arrangement” of the management information circular
of the Company dated January 31, 2025 and filed on February 4, 2025, prepared for the purposes of the special meeting of the shareholders
of the Company held on February 27, 2025.

| 31 |

Risks Related to the Offering and the Company’s Securities

The Share Consolidation may not increase the price of our Common Shares over the long-term

On July 3, 2025,
the Company effected the Share Consolidation for the reasons disclosed in the management information circular dated March 21, 2025,
including with the view of ensuring the Common Shares meet the minimum stock price standards of NASDAQ. However, the effect of the Share
Consolidation on the market price of our Common Shares cannot be predicted with any certainty, and we cannot assure that the Share Consolidation
will accomplish this objective for any meaningful period of time, or at all. While we expect that the reduction in the number of outstanding
shares of Common Shares will proportionally increase the market price of our Common Shares, we cannot assure investors that