Almonty Industries Inc. announces granting of stock options

/NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED STATES/

TORONTO, Sept. 27, 2011 /CNW/ - Almonty Industries Inc. ("Almonty") (TSXV: AII) is pleased to announce the granting of stock options to members of the board of directors and senior employees of Almonty.  Lewis Black received 250,000 options, Dennis Logan received 500,000 options, and Daniel D'Amato, Andrew McIlwain and Mark Trachuk each received 100,000 options.  Two other senior employees of Almonty have each been granted 100,000 options.  The options are being granted pursuant to the stock option plan of Almonty with each option permitting the holder to purchase one common share of Almonty at a price of $1.00 for a period of 10 years from today's date.  Other than the options granted to Dennis Logan, which will vest as to 250,000 on the first anniversary of the grant and 250,000 on the second anniversary of the grant, the options will vest immediately.  The options are subject to approval by the TSX Venture Exchange and ratification at the next annual meeting of shareholders of Almonty.

About Almonty

The common shares of Almonty will be listed on the TSX Venture Exchange and will trade under the symbol "AII" commencing Wednesday, September 28, 2011.  The principal business of Almonty is the advancement of the exploration, development and production activities at the Los Santos Project.  The Los Santos Project is a tungsten mine located about 50 kilometres from Salamanca, in western Spain.  The mine has been in production since 2008 and produces tungsten product which is currently sold under an off-take agreement.  In 2010 the mine had an annual output of approximately 225,000 tonnes of ore (at 0.25% WO3).  Tungsten is a unique metal due to its high temperature properties and exceptionally high density, and has widespread use as metal in alloys, steels and chemicals.

The TSX Venture Exchange has in no way passed on the merits of the transaction and has neither approved or disapproved the contents of this press release.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

SOURCE Almonty Industries Inc.

For further information:

Lewis Black
Telephone: (212) 343-1914
Email: lewis.black@almonty.com

Profil de l'entreprise

Almonty Industries Inc.

Renseignements sur cet organisme


FORFAITS PERSONNALISÉS

Jetez un coup d’œil sur nos forfaits personnalisés ou créez le vôtre selon vos besoins de communication particuliers.

Commencez dès aujourd'hui .

ADHÉSION À CNW

Remplissez un formulaire d'adhésion à CNW ou communiquez avec nous au 1-877-269-7890.

RENSEIGNEZ-VOUS SUR LES SERVICES DE CNW

Demandez plus d'informations sur les produits et services de CNW ou communiquez avec nous au 1‑877-269-7890.