Almonty Industries Inc. has closed a significantly oversubscribed offering of US$800,000,000 aggregate principal amount of 2.25% convertible senior notes due 2031. The transaction included the full exercise by initial purchasers of their option to purchase an additional US$100,000,000 aggregate principal amount of notes. The net proceeds from the offering were approximately US$772.7 million, after deducting discounts, commissions, and offering expenses.

The notes were offered in a private placement to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended. Lewis Black, Chairman, President & Chief Executive Officer of Almonty, stated that the financing strengthens the balance sheet and enhances financial flexibility to advance the flagship Sangdong Mine. The company aims to establish a secure, conflict-free, non-China source of tungsten for the United States and its allies.

Key Offering Details

The offer and sale of the notes and any common shares issuable upon conversion have not been registered under the Securities Act or any other securities laws. Consequently, the notes and shares cannot be offered or sold except pursuant to an exemption from registration requirements.

Almonty is a supplier of conflict-free tungsten, a strategic metal critical to the defense and advanced technology sectors. The company operates the Sangdong Mine in South Korea and holds additional projects in Portugal, the U.S., and Spain.

Almonty Industries Inc. announced the results of its annual general meeting of shareholders held today, confirming the election of seven directors and the reappointment of its auditor. The company, a global producer of tungsten, disclosed that shareholders approved the number of directors at seven and elected all nominees listed in the management information circular dated April 29, 2026.

Election of Directors

The seven nominees were elected to the board of directors. The board remains committed to governance maturation, focusing on necessary board skills and diversity to reflect the company's broadening stakeholder base and growing prominence in U.S. capital markets.

Appointment of Auditors

Zeifmans LLP was reappointed as the auditor of the company until the close of the next annual meeting of shareholders. The board of directors was authorized to fix the remuneration of the auditors.

The detailed results of the meeting are available in the company's Report of Voting Results dated June 9, 2026, filed on SEDAR+.