HomeFinTechAlmonty Industries: Raises $2.12m to advance growth opportunities

Almonty Industries: Raises $2.12m to advance growth opportunities

Date:

June 6, 2022

Almonty Industries Raises $2.12m to advance growth opportunities

Almonty Industries (AII) successfully closes a $2.12 million private placement with its third-largest shareholder, Deutsche Rohstoff
The company issued over 2.4 million chess depository interests (CDIs) at 85 cents each
Funds from the placement will be used for general working capital prior to the drawdown of the KfW-IPEX Bank finance facility
The company is focused on rebuilding the Sangdong tungsten mine in South Korea, and to do so, is aiming to secure a US$75.1 million (A$104 million) loan from the German bank
On market close, AII shares are in the grey and trading at 90 cents each

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