Almonty Industries Inc.

Almonty's board approved a share buyback allowing purchases of up to 14,400,000 common shares (about 5% of shares outstanding as of August 14, 2026) for up to US$300 million, over 36 months from August 24, 2026 to August 24, 2029. Buying is at the company's discretion and the program can be amended, suspended or discontinued at any time, so no amount is guaranteed. This comes about two months after the US$700 million convertible notes raise (June 2026) and after the TSX delisting; the release lists only Nasdaq, ASX and Frankfurt, consistent with the TSX exit.

security holder rights change

Almonty received ASX approval to be removed from the ASX official list, expected on September 1, 2026, with CDIs (the ASX-traded form of its shares) last trading on August 28, 2026. The company cites low and declining ASX volumes, with CDIs about 0.80% of issued shares as of July 14, 2026. Shares continue on Nasdaq and Frankfurt. CDI holders can convert to shares 1:1, sell on ASX before suspension, or use a voluntary sale facility (Sept 8 to Nov 6, 2026); any remaining holders' shares will be sold by default through a compulsory sale facility (Nov 9 to Dec 9, 2026), with proceeds paid to them. This follows the TSX delisting announced days earlier. All dates are subject to change and ASX conditions.

listing compliance notice

Almonty said it will voluntarily delist its common shares from the Toronto Stock Exchange at the close of trading on July 31, 2026. The shares will keep trading on Nasdaq as ALM. The company gave as reasons that most daily trading volume is on Nasdaq and that keeping the TSX listing carries financial, administrative and compliance costs; shareholder approval is not required. Canadian holders would need to trade through brokers that can access Nasdaq. This ends the TSX listing that the June 2026 convertible notes closing depended on for acceptance.

listing compliance notice

Almonty priced the oversubscribed US$700 million convertible notes at 2.25% interest, due July 1, 2031, with settlement scheduled for June 9, 2026 and an option for up to US$100 million more. Notes convert at about US$27.40 per share, a 32.5% premium to the US$20.68 share price on June 4, 2026, so a conversion would add shares (or cash), and capped calls costing about US$83.0 million are meant to reduce dilution up to a US$41.36 cap. Of about US$675.9 million net proceeds, roughly US$50.0 million is for refinancing existing debt and liabilities and US$543.0 million for working capital and general purposes, which may include acquisitions. This completes the proposal from the prior day; closing still depended on TSX acceptance and other approvals. Shares have risen from the US$6.25 December 2025 offering price to US$20.68.

debt financing

Almonty proposed a private offering of US$700 million of convertible senior notes due 2031 to institutional buyers, with an option for up to US$100 million more. Noteholders can convert into common shares (or Almonty may pay cash or a mix), and part of the proceeds would pay for capped calls to limit dilution, with the rest to refinance existing debt and liabilities and for general purposes, possibly including acquisitions. This is the company's first disclosed debt-type financing in this history, coming about six months after the December 2025 equity raise where management said it was fully capitalized; the filing now lists Dillon, Montana as its address, whereas earlier filings listed Toronto. Interest rate and conversion terms were not yet set, and closing needed regulatory approvals including TSX acceptance.

debt financing

Almonty closed its upsized US offering with the underwriters' over-allotment option exercised in full: 20,700,000 shares at US$6.25, for gross proceeds of US$129,375,000. This resolves the open question on the over-allotment (previously 18,000,000 shares and US$112.5M before the option) and means more dilution than the pricing announcement alone showed. The CEO said the company is fully capitalized for the projects in the supplement, has no present intention of further raises under the base prospectus, and intends to move to withdraw it. Use of proceeds is unchanged and still does not mention the tungsten oxide facility.

capital raising announcement

Almonty priced an upsized US offering of 18,000,000 common shares at US$6.25 each, raising US$112.5 million gross, with an option for underwriters to buy up to 2,700,000 more shares. Closing was expected around December 10, 2025. This completes the offering launched in July 2025, with new shares issued (dilution for existing holders). Proceeds are earmarked for the Gentung Browns Lake project, Panasqueira expansion, Sangdong Molybdenum exploration, and general purposes; the July plan to fund a tungsten oxide facility is not listed in this use of proceeds.

capital raising announcement

Almonty closed the acquisition of 100% of the Gentung Browns Lake Tungsten Project in Beaverhead County, Montana, its first operations in the United States. The release cites a 2012-dated technical report resource of 7.53 million tonnes at 0.315% WO₃, and the company targets possible production readiness in the second half of 2026 at about 140,000 MTUs a year. The price paid was not stated in the release.

business combination

Almonty filed a registration statement with the US SEC and Ontario regulators for a proposed public offering of common shares in the United States, and applied to list on the Nasdaq Capital Market under the ticker "ALM". Proceeds are mainly meant to fund its planned tungsten oxide facility, plus working capital. The number of shares and price were not yet set, and the offering was subject to market conditions. If Nasdaq trading starts, OTCQX trading would stop; TSX and ASX listings would continue.

capital raising announcement