Almonty Commences Legal Proceedings Against Pure Tungsten Inc. Resulting from False and Misleading Statements

Executive Summary

• Almonty Industries filed a Notice of Application in the Ontario Superior Court seeking injunctive relief against Pure Tungsten for circulating materially false statements about Almonty, its Sangdong Mine, and former contractor Tiger Kim.
• The court application requests restraining orders, compulsory corrective disclosures, and retractions of misleading claims that could mislead investors.
• Almonty emphasizes that Mr. Kim never held any executive or director role with the company; his independent‑contractor relationship ended on 31 Dec 2015.

Key Details

• Filing: Notice of Application submitted to the Ontario Superior Court (Commercial List).
• Relief Sought:
• Injunction to stop Pure Tungsten from publishing false or unsupported statements about Almonty, its officers, and mineral properties.
• Court order compelling Pure Tungsten to issue corrective disclosures to recipients of its prior communications that incorrectly stated Mr. Kim was a Representative Director of the Sangdong Mine (2010‑2020).
• Retraction of other materially misleading claims comparing Pure Tungsten’s mineral assets to Almonty’s, alleged to be designed to mislead investors.
• Background: Pure Tungsten removed some multimedia posts after cease‑and‑desist letters but failed to correct all false statements and issued a threatening letter alleging criminal proceedings against Almonty’s Chairman/President/CEO in Korea.
• Almonty’s Position: Mr. Tiger Kim was never an executive, officer, or director; his role was limited to independent contractor work that ended 31 Dec 2015.
• Quote from CEO: “Pure Tungsten’s campaign of misinformation regarding Almonty is a direct threat to market integrity and to the interests of our shareholders,” said Lewis Black, Chairman, President & CEO.
• Purpose: Protect market integrity, ensure accurate disclosure, and safeguard investors from misleading information.

Notable Quotes

• “We will vigorously pursue all available remedies to ensure the public record is corrected and to protect investors from being misled.” – Lewis Black, Chairman, President & CEO, Almonty Industries.