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Avalon Announces Closing of Brokered LIFE Financing of Approximately C$18.65 Million to Advance its Rare Earth and Lithium Projects in Canada
Toronto, Ontario--(Newsfile Corp. - October 24, 2025) - Avalon Advanced Materials Inc. (TSX: AVL)...
About this update from Avalon Advanced Materials Inc.
[{"type":"text","content":"Avalon Announces Closing of Brokered LIFE Financing of Approximately C$18.65 Million to Advance its Rare Earth and Lithium Projects in CanadaToronto, Ontario--(Newsfile Corp. - October 24, 2025) - Avalon Advanced Materials Inc. (TSX: AVL) (OTCQB: AVLNF) (\"Avalon\" or the \"Company\") is pleased to announce that it has closed its previously announced brokered private placement under the listed issuer financing exemption (the \"Offering\"). Pursuant to the Offering the Company issued an aggregate of 133,218,180 non-flow-through units of the Company (\"Non-FT Units\") and an aggregate of 30,769,231 flow-through units of the Company (\"FT Units\" and together with the Non-FT Units, the \"Units\") for aggregate gross proceeds of $18,653,999.83.Each Non-FT Unit is comprised of (i) one common share of the Company (each a \"Common Share\") and (ii) one common share purchase warrant of the Company (each a \"Warrant\"). Each FT Unit is comprised of (i) one Common Share, each of which will qualify as a \"flow-through share\" within the meaning of subsection 66(15) of the Income Tax Act (Canada) (the \"Tax Act\"), and (ii) one Warrant, each of which will qualify as a \"flow-through share\" within the meaning of subsection 66(15) of the Tax Act. Each Warrant will entitle the holder to acquire one Common Share (each, a \"Warrant Share\") at an exercise price of $0.17 per Warrant Share for a period of 36 months from the Closing Date (as defined herein).The net proceeds of the Offering are expected to be used to fund, among other things:The preparation of an updated feasibility study for the Nechalacho Rare Earths & Zirconium project to advance project readiness and support ongoing strategic partnership discussions;The preparation of a feasibility study related to the Company's planned Thunder Bay lithium refinery to advance project readiness and support ongoing strategic partnership discussions;The repayment of outstanding convertible notes; andWorking capital and general corporate purposes.\"This financing marks a transformative milestone for Avalon. With the C$18.65 million in proceeds, we are poised to significantly accelerate the advancement of our rare-earth and lithium assets, fortify our balance sheet, and position Avalon at the heart of the global shift toward establishing more secure critical minerals supply chains,\" said Scott ...