Company: ALM
Filing Date: 2025-07-11
Form Type: F-10/A
Source: 0001641172-25-018741
Chunk: 210

Company: Almonty Industries Inc.
Filing Date: 2025-07-11
Form: F-10/A
Chunk 210
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 is a resident of the United
States for the purposes of, and is fully entitled to the benefits of, the Treaty. Non-Resident Holders are urged to consult their own
tax advisors to determine their entitlement to relief under an applicable income tax treaty or convention.

Disposition
of Common Shares

A Non-Resident Holder
will not generally be subject to tax under the Tax Act on a disposition of a Common Share (other than a disposition of Common Shares
to the Company, which may result in a deemed dividend, unless purchased by the Company in the open market in the manner in which Common
Shares are normally purchased by any member of the public in the open market, in which case other considerations may arise), unless the
Common Share constitutes “taxable Canadian property” (as defined in the Tax Act) of the Non-Resident Holder at the time of
disposition and the Non-Resident Holder is not entitled to relief under an applicable income tax treaty or convention.

Provided the Common
Shares are listed on a “designated stock exchange”, as defined in the Tax Act (which currently includes the TSX and NASDAQ)
at the time of disposition, the Common Shares will generally not constitute taxable Canadian property of a Non-Resident Holder at that
time, unless at any time during the 60-month period immediately preceding the disposition the following two conditions are satisfied
concurrently: (i) (a) the Non-Resident Holder; (b) persons with whom the Non-Resident Holder did not deal at arm’s length; (c)
partnerships in which the Non-Resident Holder or a person described in (b) holds a membership interest directly or indirectly through
one or more partnerships; or (d) any combination of the persons and partnerships described in (a) through (c), owned 25% or more of the
issued shares of any class or series of our shares; and (ii) more than 50% of the fair market value of our shares was derived directly
or indirectly from one or any combination of: real or immovable property situated in Canada, “Canadian resource properties”,
“timber resource properties” (each as defined in the Tax Act), and options in respect of, or interests in or for civil law
rights in, such properties. Notwithstanding the foregoing, in certain circumstances set out in the Tax Act, the Common Shares could be
deemed to be taxable Canadian property. Even if the Common Shares are taxable Canadian property