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Almonty Industries Inc. (” Almonty ” or the ” Firm “) (NASDAQ: ALM) (TSX: AII,OTC:ALMTD) (ASX: AII) (OTCQX: ALMTF) (Frankfurt: ALI1), a number one world producer of tungsten focus, in the present day introduced that it has filed a Discover of Software within the Ontario Superior Court docket of Justice (Industrial Checklist) (the ” Court docket “) towards Pure Tungsten Inc. (” Pure Tungsten “). The submitting seeks injunctive reduction to deal with materially false and deceptive statements circulated by Pure Tungsten concerning Almonty, its flagship Sangdong Mine, and the previous involvement of Mr. Tiger Kim in Almonty.
Though it seems to have eliminated sure multi-media posts containing false or unsupported info following the receipt of cease-and-desist letters from Almonty and its authorized counsel, Pure Tungsten has did not right a lot of incorrect statements or challenge a retraction. As an alternative, Pure Tungsten has escalated issues by issuing a letter threatening legal proceedings towards Almonty’s Chairman, President and CEO, Mr. Lewis Black, in Korea, in respect of Almonty’s request that Pure Tungsten retract false statements about Almonty. Accordingly, Almonty’s utility requests, amongst different treatments, that the Court docket: (a) restrain Pure Tungsten and its representatives from publishing or disseminating false or unsupported statements regarding Almonty, its officers, and its mineral properties; (b) compel corrective disclosure to the recipients of correspondence from Pure Tungsten through which it incorrectly acknowledged that Mr. Kim had served as a Consultant Director of the Sangdong Mine from 2010 to 2020; and (c) require retraction of different materially deceptive claims evaluating Pure Tungsten’s mineral properties to Almonty’s in a way designed to mislead buyers.
Almonty underscores that Mr. Kim has by no means held any govt, officer, or director place with the Firm. His restricted function as an impartial contractor ended December 31, 2015, and any suggestion in any other case is fake and deceptive.
“Pure Tungsten’s marketing campaign of misinformation concerning Almonty is a direct menace to market integrity and to the pursuits of our shareholders,” mentioned Lewis Black. “We’ll vigorously pursue all accessible treatments to make sure the general public file is corrected and to guard buyers from being misled.”
Almonty stays dedicated to lawful, clear, and moral enterprise practices. The Firm believes that correct disclosure and truthful market communication are important to defending buyers, sustaining regulatory compliance, and upholding confidence within the world tungsten sector.
About Almonty
Almonty (NASDAQ: ALM) (TSX: AII,OTC:ALMTD) (ASX: AII) (OTCQX: ALMTF) (Frankfurt: ALI1) is a number one provider of battle free tungsten – a strategic steel essential to the protection and superior expertise sectors. As geopolitical tensions heighten, tungsten has change into important for armor, munitions, and electronics manufacturing. Almonty’s flagship Sangdong Mine in South Korea, traditionally one of many world’s largest and highest-grade tungsten deposits, is anticipated to produce over 80% of worldwide non-China tungsten manufacturing upon reaching full capability, straight addressing essential provide vulnerabilities highlighted by latest U.S. protection procurement bans and export restrictions by China. With established operations in Portugal and extra tasks in Spain, Almonty is strategically aligned to fulfill quickly rising demand from Western allies dedicated to supply-chain safety and protection readiness. To be taught extra, please go to https://almonty.com .
Authorized Discover
The discharge, publication, or distribution of this announcement in sure jurisdictions could also be restricted by regulation and due to this fact individuals in such jurisdictions into which this announcement is launched, printed, or distributed ought to inform themselves about and observe such restrictions.
Neither the TSX nor its Regulation Companies Supplier (as that time period is outlined within the insurance policies of the TSX) accepts duty for the adequacy or accuracy of this launch.
Cautionary Observe Relating to Ahead-Trying Info
This information launch accommodates “forward-looking statements” and “forward-looking info” inside the which means of relevant securities legal guidelines.
All statements, apart from statements of current or historic information, are forward-looking statements. Ahead-looking statements contain recognized and unknown dangers, uncertainties and assumptions and accordingly, precise outcomes may differ materially from these expressed or implied in such statements. You might be therefore cautioned to not place undue reliance on forward-looking statements. Ahead-looking statements are sometimes recognized by phrases similar to “plan”, “growth”, “progress”, “continued”, “intentions”, “expectations”, “rising”, “evolving”, “technique”, “alternatives”, “anticipated”, “developments”, “potential”, “outlook”, “capability”, “further”, “on monitor”, “prospects”, “viability”, “estimated”, “reaches”, “enhancing”, “strengthen”, “goal”, “believes”, “subsequent steps” or variations of such phrases and phrases or statements that sure actions, occasions or outcomes “could”, “may”, “would”, “may” or “will” be taken, happen or be achieved. Ahead-looking statements on this information launch embrace, however should not restricted to, statements regarding the profitable decision of authorized issues involving Pure Tungsten and Mr. Tiger Kim.
Ahead-looking statements are based mostly upon sure assumptions and different essential elements that, if unfaithful, may trigger precise outcomes to be materially completely different from future outcomes expressed or implied by such statements. There may be no assurance that forward-looking statements will show to be correct. Key assumptions upon which the Firm’s forward-looking info relies embrace, with out limitation, the profitable decision of authorized issues involving Pure Tungsten and Mr. Tiger Kim.
Ahead-looking statements are additionally topic to dangers and uncertainties dealing with the Firm’s enterprise, together with, with out limitation, the dangers recognized within the Firm’s annual info type dated March 20, 2025 and the Administration Dialogue and Evaluation for the three and 6 months ended June 30, 2025.
Though Almonty has tried to determine essential elements that might trigger precise outcomes, stage of exercise, efficiency or achievements to vary materially from these contained in forward-looking statements, there could also be different elements that might trigger outcomes, stage of exercise, efficiency or achievements to not be as anticipated, estimated or meant. There may be no assurance that forward-looking statements will show to be correct, and even when occasions or outcomes described within the forward-looking statements are realized or considerably realized, there may be no assurance that they are going to have the anticipated penalties to, or results on, Almonty. There may be no assurances concerning if or when the authorized issues involving Pure Tungsten or Mr. Tiger Kim are resolved and the end result for Almonty. Accordingly, readers shouldn’t place undue reliance on forward-looking statements and are cautioned that precise outcomes could range.
Traders are cautioned towards attributing undue certainty to forward-looking statements. Almonty cautions that the foregoing record of fabric elements isn’t exhaustive. When counting on Almonty’s forward-looking statements and knowledge to make choices, buyers and others ought to rigorously contemplate the foregoing elements and different uncertainties and potential occasions. Almonty has additionally assumed that materials elements won’t trigger any forward-looking statements and knowledge to vary materially from precise outcomes or occasions. Nevertheless, the record of those elements isn’t exhaustive and is topic to vary and there may be no assurance that such assumptions will replicate the precise final result of such objects or elements.
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, WHETHER AS A RESULT OF NEW INFORMATION, FUTURE EVENTS OR OTHERWISE, EXCEPT AS REQUIRED IN ACCORDANCE WITH APPLICABLE LAWS.
View supply model on businesswire.com: https://www.businesswire.com/information/residence/20251010089038/en/
Firm Contact
Lewis Black
Chairman, President & CEO
(647) 438-9766
information@almonty.com
Investor Relations Contact
Lucas A. Zimmerman
Managing Director MZ Group – MZ North America
(949) 259-4987
ALMTF@mzgroup.us
www.mzgroup.us
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