Business
Almonty Industries Inc. announces its intention to commence with a Normal Course Issuer Bid and that it has set the date for its Q4 and year end September 30, 2013 results release and investor conference call
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About this update from Almonty Industries Inc.
[{"type":"text","content":"\n\n\n/NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR DISSEMINATION IN THE\n UNITED STATES\n\n\nNOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, IN,\n INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A\n VIOLATION OF THE RELEVANT LAWS OF THAT JURISDICTION/\n\n\nTORONTO, Dec. 3, 2013 /CNW/ - Almonty Industries Inc. (\"Almonty\" or the\n \"Company\") (TSXV: AII) announces that it intends to commence with a\n Normal Course Issuer Bid (the \"Bid\"), subject to the approval of the TSX Venture Exchange (\"TSXV\").  The\n Company intends to purchase, from time to time, as it considers\n advisable, up to 901,627 common shares (which is equal to 2.4% of the\n outstanding common shares) on the open market through the facilities of\n the TSXV.  The price that Almonty will pay for any common share under\n the Bid will be the prevailing market price on the TSXV at the time of\n such purchase.  Common shares acquired under the Bid will be\n subsequently cancelled.  Almonty currently has 37,044,389 common shares\n outstanding.  The Company has appointed Jennings Capital Inc. to\n conduct the Bid on its behalf.\n\n\nThe Bid is expected to commence on December 20, 2013 and will terminate\n on December 19, 2014 or such earlier time as the Bid is completed or\n terminated at the option of Almonty.  A copy of the Form 5G - Notice of\n Intention to make a Normal Course Issuer Bid filed by the Company with\n the TSXV can be obtained from the Company upon request without charge.\n\n\nThe Company is commencing the Bid because it believes that, from time to\n time, the market price of its Common Shares may not properly reflect\n the underlying, intrinsic value of Almonty, and that, at such times,\n the purchase of Common Shares for cancellation will increase the\n proportionate interest of, and be advantageous to, all remaining\n shareholders.\n\n\nAlmonty will release its fourth quarter and year-end financial results\n on December 19, 2013 at 7 p.m. ET.\n\n\nFollowing the release, a teleconference to review the fourth quarter and\n year ended September 30, 2013 will be held at 8:30 a.m. ET on Friday,\n December 20, 2013. Representing management will be Lewis Black,\n chairman, president & chief executive officer, and Dennis Logan, chief\n financial officer. A question and answer period...