Almonty director increases stake through warrant exercises

Lewis Black, a director of Almonty Industries Inc., increased his direct interest in the company by acquiring 366,666 common shares and disposing of an equivalent number of unlisted warrants on December 11, 2025. This transaction, resulting from the exercise of unquoted warrants at a price of CAD$1.125 each, cost CAD$412,499.25. Following the change, Black directly holds 14,144,902 common shares, alongside 3,266,664 restricted share units and various unlisted warrants and options. Black's indirect holdings through Almonty Partners LLC remain at 9,262,613 common shares.

Additionally, Almonty Industries Inc. announced the issue of 30,715 common shares on December 10, 2025, through the cashless exercise of 33,333 unlisted options exercisable at C$0.735 each under the company's employee incentive plan. This conversion increased the total common shares on issue.

After these transactions, Almonty Industries Inc. now has 254,708,746 common shares unquoted on ASX. The company's total quoted Chess Depository Interests 1:1 stand at 6,844,174.