Almonty Industries (ASX:AII) received approval from shareholders for its proposed domestication to Delaware from Canada, according to a Friday filing with the Australian bourse.

The proposal will be implemented through a court-approved plan of arrangement, with the company applying for approval from the Ontario Superior Court of Justice on March 4, the filing said.

The completion of the US domestication is subject to court and regulatory approvals, according to the filing.

Shares fell nearly 3% in afternoon trade Friday.