Almonty Announces its Decision not to Proceed with an Offer for Ormonde Mining

Almonty Industries Inc. (TSXV:AII) announced that it has decided not to proceed with an offer for Ormonde Mining (LSE:ORM), following the confirmation earlier today that Ormonde had gained shareholders approval to receive financing from Oaktree Capital. Accordingly, Almonty is restricted under Rule 2.8 of the Irish Takeover Rules.

As quoted in the press release:

The directors of Almonty accept responsibility for the information contained in this announcement, save that the only responsibility accepted by the directors of Almonty in respect of the information in this announcement relating to Ormonde, the Board of Ormonde and the persons connected with them, which has been compiled from published sources, has been to ensure that such information has been correctly and fairly reproduced or presented (and no steps have been taken by the directors of Almonty to verify this information). To the best of the knowledge and belief of the directors of Almonty (having taken all reasonable care to ensure that such is the case), the information contained in this announcement for which they accept responsibility is in accordance with the facts and does not omit anything likely to affect the import of such information.

Click here to read the full Almonty Industries Inc. (TSXV:AII) press release.