Almonty Industries Inc. announces that on December 31, 2015 it reached an agreement with respect to an expansion of its existing guaranteed loan agreement by up to USD 14.0 million. The company has entered into a long-term USD 7.0 million working capital loan agreement with UniCredit Bank AG, representing the first tranche of funds under the Support Agreement whereby Almonty will be able to draw down on the facility based on production and granting security over certain assets of the company. The second tranche is expected to be available in March 2016 on similar terms. Principal and interest under the Working Capital Loan is due to UniCredit under a revolving facility based on production and APT pricing levels.

Repayment of the working capital loan will only begin when the price of APT exceeds USD 254 MTU and accelerating in repayment at USD 320 MTU. The loan carries an interest rate of LIBOR plus 1.5%. Almonty also announces that it issued a secured promissory note for gross proceeds of USD 1.0 million.

The Note was issued to Deutsche Rohstoff AG and will mature on January 1, 2017, and bears interest at a rate of 6% per annum, payable at the maturity date. The Note is secured by the existing security granted to DRAG in connection with their existing USD 4 million debenture.