Almonty prices $112.5-million (U.S.) increased offering

Executive Summary

• Almonty Industries Inc. has priced an upsized underwritten offering of common shares in the United States, raising total gross proceeds of US$112.5 million.
• The offering consists of 18 million common shares priced at $6.25 (U.S.) per share, with a 30-day overallotment option for an additional 2.7 million shares.
• Net proceeds will be used to finance exploration and development at the Gentung Browns Lake tungsten project, expansion at the Panasqueira mine, exploration at the Sangdong molybdenum project, and for general working capital.

Key Details

• Offering Size: Upsized to US$112,500,000 in gross proceeds.
• Shares Issued: 18,000,000 common shares.
• Price: $6.25 (U.S.) per common share.
• Overallotment Option: Underwriters granted a 30-day option to purchase up to an additional 2,700,000 common shares at the public offering price, less the underwriting discount.
• Expected Closing: On or about December 10, 2025, subject to customary closing conditions.
• Lead Manager: BofA Securities.
• Other Bookrunning Managers: Cantor Fitzgerald & Co., D.A. Davidson & Co., and A.G.P./Alliance Global Partners.
• Use of Proceeds:
  • Finance exploration and development work at the Gentung Browns Lake tungsten project.
  • Finance expansion work at the Panasqueira mine.
  • Finance exploration work at the Sangdong molybdenum project.
  • Working capital and general corporate purposes.
• Regulatory Filings: The offering is made pursuant to a prospectus supplement to Almonty's short-form base shelf prospectus dated October 31, 2025. The supplement is filed with securities regulatory authorities in Ontario, Alberta, and British Columbia, and with the U.S. Securities and Exchange Commission as a supplement to a registration statement on Form F-10 under the Canada/United States multijurisdictional disclosure system.

Notable Quotes

• No direct quotes from the CEO or President were included in the provided text.