Almonty Industries Inc. (TSXV:AII) agreed to acquire Beralt Ventures Inc. from Sojitz Tungsten Resources Inc for €1.5 million on December 29, 2015. Almonty acquired shares and debt of Beralt. Under the terms of the agreement, Almonty will acquire 100% stake in Beralt Ventures Inc. and also purchased €12.3 million of debt owed by Sojitz Beralt Tin & Wolfram (Portugal), S.A., a wholly-owned subsidiary of Beralt Ventures in exchange for cash payment of €1 million on closing and a promissory note in the amount of €0.5 million. Donald M. Dalik of Fasken Martineau DuMoulin acted as legal advisor to Sojitz Tungsten Resources and Douglas Bryce of Osler, Hoskin & Harcourt LLP acted as legal advisor to Almonty Industries.

Almonty Industries Inc. (TSXV:AII) completed the acquisition of Beralt Ventures Inc. from Sojitz Tungsten Resources Inc on January 6, 2016.