/NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR DISSEMINATION IN THE
TORONTO, March 28, 2013 /CNW/ - Almonty Industries Inc. ("Almonty" or
the "Company") (TSXV: AII) is pleased to announce that at its Annual
and Special Meeting of Shareholders held on March 26, 2013,
shareholders elected Bruce. C. Ratner to the board of directors
replacing Andrew McIlwain, who did not stand for re-election due to
other professional commitments. Bruce is the CEO of Forest City Ratner
Companies, a New York real estate company, which is the developer and
majority owner of Barclays Center in Brooklyn and a minority owner of
the National Basketball Association's Brooklyn Nets.
Commenting on the results, Lewis Black, Chairman and CEO of Almonty
said, "We appreciate Andrew's contribution to the Board during the
period that we were integrating and optimizing the Los Santos Project
and wish him all the best in his future endeavors. We are pleased to
welcome Bruce to the Board and believe that Bruce's experience and
expertise in a broad range of public company, financial and commercial
matters will benefit the Company as we enter our next phase of growth."
In addition, Shareholders also approved the amended and restated stock
option plan, which is described in the Management Information Circular
dated February 15, 2013, and a full copy of which is available on the
Company's website (www.almonty.com) and filed on SEDAR (www.sedar.com) under Almonty's profile.
All other resolutions set out in the Management Information Circular
dated February 15, 2013 were passed at the meeting.
The principal business of Toronto, Canada based Almonty Industries Inc.
(TSX-V: AII) is the mining, processing and shipping of tungsten
concentrate from its tungsten mine at the Los Santos Project. The Los
Santos Project was acquired by Almonty in September 2011. The mine was
originally opened in 2008 and commissioned in July 2010 by its former
owner. The Los Santos Project is located approximately 50 kilometres
from Salamanca in western Spain and produces tungsten concentrate.
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.
Disclaimer for Forward-Looking Information
This press release contains forward-looking statements and information
that are based on the beliefs of management and reflect Almonty's
current expectations. When used in this press release, the words
"estimate", "project", "belief", "anticipate", "intend", "expect",
"plan", "predict", "may" or "should" and the negative of these words or
such variations thereon or comparable terminology are intended to
identify forward-looking statements and information.
The forward-looking statements and information in this press release
include information relating to the intentions of management. Such
statements and information reflect the current view of Almonty with
respect to risks and uncertainties that may cause actual results to
differ materially from those contemplated in those forward-looking
statements and information.
By their nature, forward-looking statements involve known and unknown
risks, uncertainties and other factors which may cause actual results,
performance or achievements, or other future events, to be materially
different from any future results, performance or achievements
expressed or implied by such forward-looking statements.
Forward-looking statements are made based on management's beliefs,
estimates and opinions on the date that statements are made and Almonty
undertakes no obligation to update forward-looking statements if these
beliefs, estimates and opinions or other circumstances should change.
Investors are cautioned against attributing undue certainty to
forward-looking statements. Almonty cautions that the foregoing list of
material factors is not exhaustive. When relying on Almonty's
forward-looking statements and information to make decisions, investors
and others should carefully consider the foregoing factors and other
uncertainties and potential events.
Almonty has also assumed that material factors will not cause any
forward-looking statements and information to differ materially from
actual results or events. However, the list of these factors is not
exhaustive and is subject to change and there can be no assurance that
such assumptions will reflect the actual outcome of such items or
THE FORWARD-LOOKING INFORMATION CONTAINED IN THIS PRESS RELEASE
REPRESENTS THE EXPECTATIONS OF ALMONTY AS OF THE DATE OF THIS PRESS
RELEASE AND, ACCORDINGLY, IS SUBJECT TO CHANGE AFTER SUCH DATE. READERS
SHOULD NOT PLACE UNDUE IMPORTANCE ON FORWARD-LOOKING INFORMATION AND
SHOULD NOT RELY UPON THIS INFORMATION AS OF ANY OTHER DATE. WHILE
ALMONTY MAY ELECT TO, IT DOES NOT UNDERTAKE TO UPDATE THIS INFORMATION
AT ANY PARTICULAR TIME EXCEPT AS REQUIRED IN ACCORDANCE WITH APPLICABLE
SOURCE: Almonty Industries Inc.
For further information:
Dennis Logan, Director & Chief Financial Officer
Telephone: (647) 478-5308