06:28 AM EDT, 05/13/2024 (MT Newswires) -- Almonty Industries ( ALMTF ) over the weekend said that it plans to raise an additional A$1.9 million ($1.7 million) under the previously announced private placement after receiving firm commitments.

The company will issue 3 million placement chess depository interests units, or CDIs, at A$0.62 apiece.

Each CDI unit participant will be issued one free unlisted option for every one CDI issued, exercisable at A$0.84 with an expiry date of 24 months from the date of closing.

The company plans to use the proceeds for general working capital and offer costs.