Company: ALM
Filing Date: 2025-10-22
Form Type: F-10
Source: 0001493152-25-018900
Chunk: 24

Company: Almonty Industries Inc.
Filing Date: 2025-10-22
Form: F-10
Chunk 24
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 upon such consolidation, such shareholder had such fractional share cancelled. Except where otherwise noted, all information in this Prospectus and the documents incorporated by reference dated on or after the date of the share consolidation gives effect to such share consolidation.

On July 15, 2025, the Company closed its initial public offering of 20,000,000 Common Shares in the United States at a price of US$4.50 per Common Share for gross proceeds of US$90 million, which Common Shares commenced trading on the Nasdaq on July 14, 2025 under the ticker symbol “ALM”. The Company intends to use up to approximately 1% of the net proceeds of the offering to fund remaining early-stage development activities for a nano tungsten oxide downstream processing plant in South Korea, near the Sangdong Mine (the “ Tungsten Oxide Facility”) and up to approximately 84% of the net proceeds of the offering toward the development of the Tungsten Oxide Facility, with the remaining net proceeds to be used primarily for working capital, corporate expenses, business development, potential future acquisitions and other purposes.

Other than as set out above, there have been no material changes in the consolidated capitalization of Almonty since June 30, 2025.

<div align='center'>DESCRIPTION OF SECURITIES</div>

The following description sets forth certain general terms and provisions of the Securities. The Company may issue Securities either separately or together with or upon the conversion of or in exchange of other securities. The particular terms and provisions of each series of Securities the Company may offer will be described in greater details in the related Prospectus Supplement, which may provide information that is different from this Prospectus. The Company reserves the right to include in a Prospectus Supplement specific variable terms pertaining to the Securities that are not within the descriptions set forth in this Prospectus.

The authorized share capital of Almonty consists of an unlimited number of Common Shares of which 230,928,191are issued and outstanding as at the date of this Prospectus. There are also outstanding 9,917,747Warrants to acquire Common Shares, 7,597,973Options and 3,277,773RSUs as of the date of this Prospectus.

The summary below of the rights, privileges, restrictions and conditions attaching to the Securities is subject to, and qualified by reference to, Almonty’s articles and by-laws.

Common Shares

The specific terms of any offerings of Common Shares, including the number of Common Shares being