Company: ALM
Filing Date: 2025-07-11
Form Type: F-10/A
Source: 0001641172-25-018741
Chunk: 205

Company: Almonty Industries Inc.
Filing Date: 2025-07-11
Form: F-10/A
Chunk 205
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 are effectively connected with such Non-U.S. Holder’s conduct of a trade or business within the
United States (or if a tax treaty applies are attributable to a U.S. permanent establishment or fixed base maintained by the Non-U.S.
Holder) will generally not be subject to U.S. withholding tax, provided such Non-U.S. Holder complies with certain certification and
disclosure requirements (usually by providing an IRS Form W-8ECI). Instead, such dividends generally will be subject to U.S. federal
income tax at the same regular U.S. federal income tax rates applicable to a comparable U.S. Holder and, in the case of a Non-U.S. Holder
that is a corporation for U.S. federal income tax purposes, also may be subject to an additional branch profits tax at a 30% rate or
a lower applicable tax treaty rate.

| 144 |

The dividend rules
are complex. Non-U.S. Holders of New Almonty Shares are urged to consult with their own tax advisors regarding eligibility for benefits
under any applicable income tax treaty with respect to dividends paid by the Company after the Domestication and the proper manner for
claiming such benefits (including proper certification on an applicable IRS Form W-8).

| II) | Sale or Other Taxable             
 Disposition of New Almonty Shares |

A Non-U.S. Holder generally
will not be subject to U.S. federal income tax on gain realized upon the sale or other disposition of its New Almonty Shares unless:

| ● | the gain is                                                                                       
 effectively connected with the Non-U.S. Holder’s conduct of a trade or business within            
 the United States (and, if required by an applicable income tax treaty, such gain is attributable 
 to a permanent establishment maintained by the Non-U.S. Holder in the United States);             |

| ● | the Non-U.S.                                                                                
 Holder is a non-resident alien individual present in the United States for 183 days or more 
 during the taxable year of the disposition and certain other requirements are met; or       |

Gain described in the
first bullet point above generally will be subject to U.S. federal income tax on a net income basis at regular graduated tax rates, generally
in the same manner as if such Non-U.S. Holder were a United States person. A Non-U.S. Holder that is a corporation may also be subject
to a branch profits tax at a rate of 30% (or such lower rate specified by an applicable income