Almonty Industries (ASX:AII) received final commitments to raise AU$18.5 million through the placement of 4.5 million Canadian shares and 15.4 million chess depository interest units (CDIs), according to a Friday filing with the Australian bourse.

The Canadian shares were priced at CA$0.82 per share and the CDIs at AU$0.90 per unit, the filing said.

Participants in the placement will also be issued one warrant for every share issued, and one free unlisted option for every CDI issued, which will be exercisable at CA$1.14 and AU$1.25, respectively, the filing added.

The options have an expiry date of three years from the date of closing, the company said.

Proceeds will be used towards offer costs and to restructure the company's balance sheet.

Settlement of the Canadian shares and CDIs is expected on Feb. 4, while closing of the placement is subject to regulatory approval, the company added.