TORONTO--(BUSINESS WIRE)--Almonty Industries Inc. (“Almonty” or the “Company”) (NASDAQ: ALM) (TSX: AII) (ASX: AII) (OTCQX: ALMTF) (Frankfurt: ALI1), a leading global producer of tungsten concentrate, today announced that it has filed a Notice of Application in the Ontario Superior Court of Justice (Commercial List) (the “Court”) against Pure Tungsten Inc. (“Pure Tungsten”). The filing seeks injunctive relief to address materially false and misleading statements circulated by Pure Tungsten regarding Almonty, its flagship Sangdong Mine, and the past involvement of Mr. Tiger Kim in Almonty.
Although it appears to have removed certain multi-media posts containing false or unsupported information following the receipt of cease-and-desist letters from Almonty and its legal counsel, Pure Tungsten has failed to correct a number of incorrect statements or issue a retraction. Instead, Pure Tungsten has escalated matters by issuing a letter threatening criminal proceedings against Almonty’s Chairman, President and CEO, Mr. Lewis Black, in Korea, in respect of Almonty’s request that Pure Tungsten retract false statements about Almonty. Accordingly, Almonty’s application requests, among other remedies, that the Court: (a) restrain Pure Tungsten and its representatives from publishing or disseminating false or unsupported statements concerning Almonty, its officers, and its mineral properties; (b) compel corrective disclosure to the recipients of correspondence from Pure Tungsten in...
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