Almonty Industries Raises Funds Through Private Placement

Almonty Industries Inc. (TSE:AII) has released an update.

Almonty Industries Inc. has announced the completion of additional tranches in its private placement, raising total gross proceeds of approximately CDN$3.3 million. The funds are earmarked for general working capital and to advance planning and research on the company’s downstream project and Moly material. Participation by insiders in this financing round was conducted in accordance with regulatory exemptions for related party transactions.

For further insights into TSE:AII stock, check out TipRanks’ Stock Analysis page.