Almonty Industries Inc. announced a private placement of 2,494,118 chess depository interests at AUD 0.85 per chess depository interests to raise gross proceeds of AUD 2,120,000 on June 7, 2022. The transaction will include participation from Deutsche Rohstoff. The transaction is expected to close on or around June 7, 2022.

The closing of the placement is subject to receipt of all necessary regulatory approvals, including the acceptance by the TSX and ASX.