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SERVICES OR DISSEMINATION IN THE UNITED
STATES/
TORONTO, Aug. 15, 2014 /CNW/ - Almonty Industries Inc.
("Almonty") (TSX-V: AII) today announced that it has
declared a special cash dividend of 2.72 cents per share on
all of its outstanding common shares. The special dividend
will have a record date of August 27, 2014 and a payment
date of September 4, 2014. It
is the intention of the Board of Directors, based on and subject to
the future financial performance of Almonty, to annually declare a
special dividend. Any such special dividends will only be
payable if and when declared by Almonty's Board and there will be
no entitlement to any dividend prior thereto.
"The ongoing operational improvements at our Los Santos
mine have continued to yield results and have enabled the Company
to be in a position to declare the dividend. It is our
intention to assess the financial condition of the Company on an
annual basis, and if deemed appropriate, make the declaration of a
special dividend an annual event. We see this as another step
in the creation of long-term value for our shareholders." said
Lewis Black, Chief Executive Officer
of Almonty.
The special dividend is designated as an "eligible" dividend
for the purposes of the Income Tax Act (Canada) and any similar provincial
legislation.
About Almonty
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 Los Santos Project is located approximately 50
kilometres from Salamanca in western Spain and produces tungsten concentrate.
Almonty also has an option to acquire a 100% ownership interest in
the Valtreixal tin-tungsten project in north western Spain. Management and certain members of
Almonty's Board of Directors led the turnaround and eventual sale
of Primary Metals Inc., the operator of the Panasqueira Tungsten
Mine in Portugal from 2003 to
2007. Further information about the company's activities may be
found at www.almonty.com and under the company's profile at
www.sedar.com.
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.