Almonty Settles Claims with Deutsche Rohstoff

Almonty Industries Inc. (TSXV:AII) announced that it has entered into an agreement with Deutsche Rohstoff AG (ETR:DRo) to unconditionally settle all claims related to the acquisition of Wolfram Camp Mining Pty Ltd. and Tropical Metals Pty Ltd. by Almonty.

As quoted in the press release:

Under the terms of the Agreement, DRAG will pay Almonty $1,500,000, which will be satisfied by DRAG surrendering to Almonty $1,500,000 of the principal amount of the $7,500,000 convertible debenture issued by Almonty as part of the purchase price paid for WC M. Almonty and DRAG have agreed to release each other from all claims made to date under the SSA an d not to bring any future claims against the other in connection therewith.

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