On January 27, 2021, Almonty Industries Inc. (TSX:AII) closed the transaction. The company amended the terms of the transaction. The company has now issued 2,830,000 shares at an issue price of CAD 0.75 per share for proceeds of CAD 2,122,500 in its second and final tranche closing.

The tranche included participation from existing European shareholders. The company issued a total of 4,880,251 common shares for a gross proceeds of CAD 3,660,188 in the transaction.