Company: ALM
Filing Date: 2025-07-07
Form Type: F-10
Source: 0001641172-25-017947
Chunk: 80

Company: Almonty Industries Inc.
Filing Date: 2025-07-07
Form: F-10
Chunk 80
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Redacted copies of
the Distribution Agreement and the Amended Off-Take Agreement are filed under Almonty’s SEDAR+ profile at .

Material Mineral
Projects

As announced on July
3, 2025, the Company has conducted a reassessment of its mining portfolio and has concluded that, on the basis of its current strategy,
including management’s focus and deployment of resources on the Sangdong Mine and the expected economic importance to the Company
of the production at Phase I relative to its other properties, as well as the expected timing and significant potential production increase
of Phase II, the Sangdong Mine is the only mineral project on a property that is material to the Company for the purposes of NI 43-101. For
further information on this and other mineral projects, see “Mineral Projects—Material Mineral Project”.

The Company is also
involved in the operation and development of the smaller mineral projects. For further information on these other mineral projects, see
“Mineral Projects—Other Mineral Projects”.

Continuation
to the United States

On February 27, 2025,
the holders of Common Shares of the Company voted in favour of changing the Company’s jurisdiction of incorporation from the federal
jurisdiction of Canada to the State of Delaware, such that the Company would be governed by the Delaware General Corporation Law (the
“Domestication”). The Domestication reflects the growing importance of the United States in our strategic positioning.
With its robust regulatory framework for critical minerals like tungsten and molybdenum and the evolving global economic landscape, the
United States represents a compelling jurisdiction for our incorporation. The Domestication will also align Almonty’s corporate
structure with the location of a significant portion of our shareholder base. If the Board decides to proceed with the Domestication,
the Domestication will be implemented by way of the court-approved Plan of Arrangement under the Canada Business Corporations Act(the “CBCA”) as part of the Arrangement and will be effective on the date set forth in the Certificate of Conversion
and Certificate of Incorporation, as filed with the Secretary of State of the State of Delaware. In addition to the issuance of the final
order of the Ontario Superior Court of Justice (Commercial List) approving the Arrangement, the Arrangement is subject to the receipt
of appropriate consents, approvals, and/or waivers from relevant regulatory authorities and third parties, including the CBCA Director,
the TSX, the ASX and the NASDAQ. Pursuant to the resolution