04:31 PM EST, 12/23/2024 (MT Newswires) -- Almonty Industries ( ALMTF ) after close of trade Monday announced that it has received firm commitments to raise gross proceeds of the equivalent of $5.95 million (Australian) via the issuance of 2 million Canadian units and 4.56 million placement Chess Depository Interests units (CDIs) at C$0.82 per Canadian unit and A$0.90 per CDI unit, respectively.

A statement noted the offering of each Canadian unit and CDI placement unit participant will be issued with one warrant for every common share issued and one free unlisted option for every one CDI issued, exercisable at C$1.14 and A$1.25, respectively, with an expiry date of three years from the date of closing.

Proceeds from the placement will be applied towards restructuring the company's balance sheet and towards offer costs.

The Canadian units and placement CDI units are expected to settle on or about 30 Dec. 30 2024. The Canadian units and CDI placement units issued will rank equally with existing CDI's and common shares on issue.

AII closed Monday up $0.03 or 3.5% at $0.89.