NEW YORK, July 12, 2018 /PRNewswire/ -- OTC Markets
Group Inc. (OTCQX: OTCM), operator of financial markets for 10,000
U.S. and global securities, today announced Almonty Industries Inc.
(TSX: AII; OTCQX: ALMTF), which specializes in acquiring distressed
and under-performing operations assets in tungsten markets, has
qualified to trade on the OTCQX® Best Market. Almonty
Industries upgraded to OTCQX from the Pink® market.
Almonty Industries begins trading today on OTCQX under the
symbol "ALMTF." U.S. investors can find current financial
disclosure and Real-Time Level 2 quotes for the company on
www.otcmarkets.com.
"Trading on OTCQX will enable Almonty Industries to efficiently
provide their U.S. investors with current information and greater
transparency," said Jason
Paltrowitz, Executive Vice President of Corporate Services
at OTC Markets Group. "We are pleased to welcome Almonty Industries
to our OTCQX Best Market and look forward to supporting the company
as it builds long-term shareholder value."
"The quotation of Almonty's common shares on OTCQX will not only
provide the Company with greater awareness and visibility in
the United States but also improve
liquidity for Almonty's current and prospective shareholders in US
markets. The timing couldn't be better. The tungsten APT price
remains strong in the US$340-345/mtu
range which gives us very healthy margins from the production of
our two mines in Spain and
Portugal. Moreover, we are making
great progress regarding a non-dilutive financing package for the
construction of our Korean Sangdong Mine, which was historically
one of the largest tungsten mines in the world and one of the few
high-grade tungsten deposits outside of China," said Lewis
Black, President and Chief Executive Officer for of Almonty
Industries.
Almonty Industries was sponsored for OTCQX by J.P. Galda &
Co., a qualified third-party firm responsible for providing
guidance on OTCQX requirements and recommending
membership.
About Almonty Industries Inc.
The principal business
of Almonty is the mining, processing and shipping of tungsten
concentrate from its Los Santos Mine in western Spain, its Wolfram Camp Mine in north
Queensland, Australia and its
Panasqueira mine in Portugal as
well as the development the Sangdong tungsten mine in Gangwon
Province, Korea and the Valtreixal tin/tungsten project in north
western Spain. The Los Santos Mine
was acquired by Almonty in September
2011 and is located approximately 50 kilometres from
Salamanca in western Spain and produces tungsten concentrate. The
Wolfram Camp Mine was acquired by Almonty in September 2014 and is located approximately 130
kilometres west of Cairns in northern Queensland, Australia and produces tungsten
and molybdenum concentrate. The Panasqueira mine, which has been in
production since 1896, is located approximately 260 kilometres
northeast of Lisbon, Portugal, was
acquired in January 2016 and produces
tungsten concentrate. The Sangdong mine, which was historically one
of the largest tungsten mines in the world and one of the few
long-life, high-grade tungsten deposits outside of China, was acquired in September 2015 through the acquisition of a 100%
interest in Woulfe Mining Corp. Almonty owns 100% of the
Valtreixal tin-tungsten project in northwestern Spain.
About OTC Markets Group Inc.
OTC Markets Group Inc. (OTCQX: OTCM) operates the OTCQX® Best
Market, the OTCQB® Venture Market and the Pink® Open Market for
10,000 U.S. and global securities. Through OTC Link® ATS and
OTC Link ECN, we connect a diverse network of broker-dealers that
provide liquidity and execution services. We enable investors
to easily trade through the broker of their choice and empower
companies to improve the quality of information available for
investors.
To learn more about how we create better informed and more
efficient markets, visit www.otcmarkets.com.
OTC Link ATS and OTC Link ECN are operated by OTC Link LLC,
member FINRA/SIPC and SEC regulated ATS.
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Media Contact:
OTC Markets Group Inc., +1 (212)
896-4428, media@otcmarkets.com
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SOURCE OTC Markets Group Inc.
