Almonty Announces Shareholder Approval of Proposed US Domestication
Almonty Industries (TSX: AII / ASX: AII / OTCQX: ALMTF) has received overwhelming shareholder approval for its proposed continuance from Canada to Delaware, USA, with 99.96% of votes in favor. The US Domestication will be implemented through a court-approved plan of arrangement under the Canada Business Corporations Act.
The strategic move reflects the growing importance of the United States in Almonty's positioning, particularly regarding critical materials like tungsten and molybdenum. The company will seek final approval from the Ontario Superior Court of Justice on March 4, 2025. The domestication aims to align with their significant US shareholder base and enhance competitiveness amid global geopolitical tensions and policies promoting domestic sourcing of critical raw materials.
Almonty Industries (TSX: AII / ASX: AII / OTCQX: ALMTF) ha ricevuto un'approvazione schiacciante da parte degli azionisti per la sua proposta di trasferimento dal Canada al Delaware, USA, con 99,96% dei voti a favore. La domesticazione negli Stati Uniti sarà attuata attraverso un piano di disposizione approvato dal tribunale ai sensi della Legge canadese sulle società.
Questa mossa strategica riflette l'importanza crescente degli Stati Uniti nella posizione di Almonty, in particolare riguardo a materiali critici come tungsteno e molibdeno. L'azienda cercherà l'approvazione finale dalla Corte Superiore di Giustizia dell'Ontario il 4 marzo 2025. La domesticazione mira ad allinearsi con la loro significativa base di azionisti statunitensi e a migliorare la competitività in un contesto di tensioni geopolitiche globali e politiche che promuovono l'approvvigionamento interno di materie prime critiche.
Almonty Industries (TSX: AII / ASX: AII / OTCQX: ALMTF) ha recibido una abrumadora aprobación de los accionistas para su propuesta de traslado de Canadá a Delaware, EE. UU., con 99.96% de los votos a favor. La domesticación en EE. UU. se implementará a través de un plan de arreglo aprobado por el tribunal bajo la Ley de Corporaciones Comerciales de Canadá.
Este movimiento estratégico refleja la creciente importancia de los Estados Unidos en la posición de Almonty, particularmente en relación con materiales críticos como tungsteno y molibdeno. La compañía buscará la aprobación final del Tribunal Superior de Justicia de Ontario el 4 de marzo de 2025. La domesticación tiene como objetivo alinearse con su base significativa de accionistas estadounidenses y mejorar la competitividad en medio de tensiones geopolíticas globales y políticas que promueven el abastecimiento interno de materias primas críticas.
Almonty Industries (TSX: AII / ASX: AII / OTCQX: ALMTF)는 캐나다에서 미국 델라웨어로의 이전 제안에 대해 주주들의 압도적인 승인을 받았으며, 99.96%의 찬성 투표를 기록했습니다. 미국 내재화는 캐나다 기업법에 따라 법원에서 승인된 계획을 통해 시행될 예정입니다.
이 전략적 움직임은 알몬티의 위치에서 미국의 중요성이 커지고 있음을 반영하며, 특히 텅스텐과 몰리브데넘과 같은 중요한 자재와 관련이 있습니다. 이 회사는 2025년 3월 4일 온타리오 고등법원에서 최종 승인을 요청할 것입니다. 내재화는 그들의 중요한 미국 주주 기반과 일치하고, 글로벌 지정학적 긴장과 중요한 원자재의 국내 조달을 촉진하는 정책 속에서 경쟁력을 향상시키는 것을 목표로 합니다.
Almonty Industries (TSX: AII / ASX: AII / OTCQX: ALMTF) a reçu une approbation écrasante des actionnaires pour son projet de transfert du Canada vers le Delaware, aux États-Unis, avec 99,96% des votes en faveur. La domestication aux États-Unis sera mise en œuvre par un plan d'arrangement approuvé par le tribunal en vertu de la Loi canadienne sur les sociétés.
Ce mouvement stratégique reflète l'importance croissante des États-Unis dans le positionnement d'Almonty, notamment en ce qui concerne des matériaux critiques tels que tungstène et molybdène. L'entreprise cherchera l'approbation finale de la Cour supérieure de justice de l'Ontario le 4 mars 2025. La domestication vise à s'aligner sur leur base significative d'actionnaires américains et à améliorer la compétitivité dans un contexte de tensions géopolitiques mondiales et de politiques favorisant l'approvisionnement intérieur en matières premières critiques.
Almonty Industries (TSX: AII / ASX: AII / OTCQX: ALMTF) hat überwältigende Zustimmung von den Aktionären für seinen Vorschlag zur Verlagerung von Kanada nach Delaware, USA, erhalten, mit 99,96% der Stimmen dafür. Die US-Domestizierung wird durch einen gerichtlich genehmigten Plan gemäß dem kanadischen Unternehmensgesetz umgesetzt.
Dieser strategische Schritt spiegelt die wachsende Bedeutung der Vereinigten Staaten in Almontys Positionierung wider, insbesondere in Bezug auf kritische Materialien wie Wolfram und Molybdän. Das Unternehmen wird am 4. März 2025 die endgültige Genehmigung vom Obersten Gerichtshof von Ontario anstreben. Die Domestizierung zielt darauf ab, sich mit ihrer signifikanten US-Aktionärsbasis in Einklang zu bringen und die Wettbewerbsfähigkeit inmitten globaler geopolitischer Spannungen und Politiken zu verbessern, die die inländische Beschaffung kritischer Rohstoffe fördern.
- Overwhelming shareholder support (99.96%) indicates strong confidence in strategic move
- Strategic alignment with US critical materials policies could enhance market opportunities
- No shareholder dissent rights were exercised
- Completion still subject to regulatory and court approvals
- Timeline extends to March 2025 for court approval
“The Domestication gives Almonty great optionality going forward and reflects the growing importance of
The US Domestication, if completed, will be effected through a court-approved plan of arrangement (the “Arrangement”) under Section 192 of the Canada Business Corporations Act. The Company will apply for a final order of the
Completion of the US Domestication is subject to court and certain regulatory approvals. Notwithstanding receipt of any such approvals, the US Domestication will be completed if and when determined by the Company’s board of directors.
About Almonty
The principal business of Almonty Industries Inc. is the mining, processing and shipping of tungsten concentrate from its Los Santos Mine in western
Legal Notice
The release, publication, or distribution of this announcement in certain jurisdictions may be restricted by law and therefore persons in such jurisdictions into which this announcement is released, published, or distributed should inform themselves about and observe such restrictions.
Neither the TSX nor its Regulation Services Provider (as that term is defined in the policies of the TSX) accepts responsibility for the adequacy or accuracy of this release.
Cautionary Note Regarding Forward-Looking Information
Certain information in this press release constitutes forward-looking information. In some cases, but not necessarily in all cases, forward-looking information can be identified by the use of forward-looking terminology such as “may”, “will”, “plan”, “expect”, “intend”, and “believe” or variations of such words and phrases. Forward-looking information or statements in this press release include matters relating to whether the US Domestication will be completed (including the board of directors of the Company deciding not to proceed therewith), the receipt and timing of court and regulatory approvals required in connection with the US Domestication, and the effecting of the Continuance through the Arrangement. In addition, any statements that refer to expectations, projections or other characterizations of future events or circumstances contain forward-looking information. These statements and information are based on management’s beliefs, estimates and opinions on the date the statements are made and reflect Almonty’s current expectations.
Forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of Almonty to be materially different from those expressed or implied by such forward-looking statements, including but not limited to: the risk that the US Domestication will not be completed for any reason (including the board of directors of the Company deciding not to proceed therewith); changes in the rights of Shareholders as a result of the US Domestication; the absence of any event, change or other circumstance that could give rise to not proceeding with the US Domestication; a delay in or increase in cost of completing the US Domestication; environmental, economic and political risks of the jurisdictions in which Almonty will carry on business or have operations; the impact, if any, of the US Domestication on the Company’s listings on the Toronto Stock Exchange and the Australian Securities Exchange and the Company’s ability to access US markets; an inability to realize the expected benefits of the US Domestication or the occurrence of difficulties in connection with the US Domestication; adverse tax consequences in connection with the US Domestication for the Company, its operations and its Shareholders that may differ from the Company’s expectations, including that future changes in tax law and disagreements with tax authorities on the Company’s determination of value and computations of its tax attributes may result in increased tax costs; the occurrence of material Canadian federal income tax as a result of the US Domestication; the impact of uncertainty associated with the US Domestication on the Company’s business; direct or indirect costs associated with the US Domestication, which could be greater than expected; and the risk that completion of the US Domestication may not occur due to the failure obtain court and/or regulatory approval or otherwise.
Forward-looking statements are based on assumptions management believes to be reasonable based on currently available information, including but not limited to assumptions regarding the timely receipt of court and regulatory approvals required to complete the US Domestication; potential benefits of the US Domestication; expectations regarding the legal and tax implications of the US Domestication; and the legislative and regulatory environments of the jurisdictions where Almonty will carry on business or have operations. Although Almonty has attempted to identify important factors that could cause actual results, performance or achievements to differ materially from those contained in forward-looking statements, there may be other factors that could cause results, performance or achievements not to be as anticipated, estimated or intended. There can be no assurance that forward-looking statements will prove to be accurate, and even if events or results described in the forward-looking statements are realized, there can be no assurance that they will have the expected consequences to, or effects on, Almonty. Accordingly, readers should not place undue reliance on forward-looking statements and are cautioned that actual outcomes may vary.
Almonty cautions that the foregoing list of material risks, uncertainties and other factors is not exhaustive. Forward-looking statements are made as of the date of this press release. Except as required by applicable securities laws, the Company does not undertake any obligation to publicly update any forward-looking statements.
THE FORWARD-LOOKING INFORMATION CONTAINED IN THIS PRESS RELEASE REPRESENTS THE EXPECTATIONS OF ALMONTY AS OF THE DATE OF THIS PRESS RELEASE AND, ACCORDINGLY, IS SUBJECT TO CHANGE AFTER SUCH DATE. READERS SHOULD NOT PLACE UNDUE IMPORTANCE ON FORWARD- LOOKING INFORMATION AND SHOULD NOT RELY UPON THIS INFORMATION AS OF ANY OTHER DATE. WHILE ALMONTY MAY ELECT TO, IT DOES NOT UNDERTAKE TO UPDATE THIS INFORMATION AT ANY PARTICULAR TIME EXCEPT AS REQUIRED IN ACCORDANCE WITH APPLICABLE LAWS.
View source version on businesswire.com: https://www.businesswire.com/news/home/20250227235399/en/
For further information, please contact:
Lewis Black
Chairman, President and CEO
Telephone: +1 647 438-9766
Email: info@almonty.com
Source: Almonty Industries Inc.
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