Completion of Almonty merger with Woulfe / total financing CAD 7,78 million
11. September 2015 Heidelberg / Toronto. Almonty Industries announced today that the merger with Woulfe Mining has been successfully completed. At the same time, the company was able to complete financing for 7,78 million Canadian dollars. As part of this financing, Deutsche Rohstoff AG subscribed to a convertible bond amounting to CAD 4 million. It has a term of 2 years and bears interest at 5%. The conversion price is CAD 0,81. Deutsche Rohstoff may convert at any time, Almonty only if further equity financing of at least CAD 22,5 million has been completed. As collateral, Almonty pledges the shares in Woulfe Mining to Deutsche Rohstoff AG. In addition, Deutsche Rohstoff has the right to appoint a member of Almonty's Board of Directors. Thomas Gutschlag, CEO of Deutsche Rohstoff, will take over this position.
Lewis Black, President and CEO of Almonty said, "We are pleased to have reached this milestone and we believe that the combination of Woulfe's flagship tungsten project" Sangdong "with Almonty's existing portfolio will bring significant synergies, of which all Almonty shareholders will benefit. This merger brings us closer to our goal of becoming the leading producer of tungsten concentrate outside of China. All projects and mines are located in safe and mining-friendly countries with regulated legal systems. The merger will give Almonty and its shareholders the opportunity to diversify into the tungsten market in order to capitalize on the anticipated future increase in commodity prices. "
A detailed press release can be found on the Almonty Industries website or at this link http://www.almonty.com/.
Heidelberg, 11. September 2015
German commodity AG
Deutsche Rohstoff identifies, develops and sells attractive natural resources in North America, Australia and Europe. The focus is on the development of oil and gas deposits in the USA. Metals such as gold, copper, rare earths, tungsten and tin complete the portfolio. Further information at www.rohstoff.de
