Company: ALM
Filing Date: 2025-07-11
Form Type: F-10/A
Source: 0001641172-25-018741
Chunk: 184

Company: Almonty Industries Inc.
Filing Date: 2025-07-11
Form: F-10/A
Chunk 184
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 available for such purpose. No Common Shares have been issued subject to call or
assessment. There are no pre-emptive or conversion rights, and no provisions for redemption, retraction, purchase or cancellation, surrender,
sinking fund or purchase fund.

Dividend Policy

The Company has not
paid any dividends on the Common Shares for the past three most recently completed fiscal years. Any future determination to pay dividends
will be at the discretion of the Board and will depend upon the Company’s results of operations, capital requirements and other
relevant factors. The Company has no present intention of paying dividends on its Common Shares, as it anticipates that all available
funds will be invested to finance the growth of its business for the immediate future.

Share Consolidation

On July 3, 2025, we
filed articles of amendment for the purpose of effecting the Share Consolidation on the basis that each one and a half outstanding Common
Shares became one post-consolidated Common Share and our Common Shares commenced trading on a post-consolidated basis on July 7, 2025.
No fractional Common Shares have been issued in connection with such consolidation and, in the event that a shareholder would otherwise
be entitled to a fractional Common Share 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.

Principal Shareholders

To our knowledge, the
only persons who beneficially own Common Shares conferring more than 10% of the voting rights attached to our issued and outstanding
Common Shares are GTP, which currently beneficially own approximately 25,433,037 Common Shares (on a post-consolidated basis), or
13.59% of our Common Shares (on a post-consolidated basis), and Deutsche Rohstoff AG, which currently beneficially own approximately
20,590,951 Common Shares (on a post-consolidated basis), or 11.00% of our Common Shares (on a post-consolidated basis).

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<div align='center'>PRIOR SALES</div>

The Company issued the following
Common Shares and securities convertible into Common Shares during the 12-month period prior to the date hereof.

Common Shares

| Date     
 of Issue |     |            Number 
  of Shares Issued 
            Actual |     | Price     
 Per Share 
 Actual    |