Business
Avalon Closes US$4million Registered Direct Offering
Toronto, Ontario--(Newsfile Corp. - June 13, 2014) - Avalon Rare Metals Inc. (TSX: AVL ) (N...
About this update from Avalon Advanced Materials Inc.
[{"type":"text","content":"\nAvalon Closes US$4million Registered Direct OfferingToronto, Ontario--(Newsfile Corp. - June 13, 2014) - Avalon Rare Metals Inc. (TSX: AVL) (NYSE MKT: AVL) (\"Avalon\" or the \"Company\") is pleased to announce that it \nhas closed its previously announced registered direct offering with an \ninstitutional investor for gross proceeds of approximately US$4 million, as \nfurther described in the Company's news release of June 10, 2014.\nNet proceeds, after deducting the placement agent's fee and \nother estimated offering expenses payable by Avalon, are expected to be \napproximately US$3,560,000. Avalon plans to use the net proceeds from the \noffering for general corporate purposes, including funding ongoing operations \nand/or capital requirements, and discretionary capital programs. H.C. Wainwright \n& Co., LLC acted as the exclusive placement agent for the offering. \nThese securities were not offered for sale in Canada. This \npress release shall not constitute an offer to sell or solicitation of an offer \nto buy these securities, and these securities may not be offered or sold in any \njurisdiction in which their offer or sale would be unlawful. \nAbout Avalon Rare Metals Inc.\nAvalon Rare Metals Inc. is a mineral development company \nfocused on rare metal deposits in Canada. Its 100%-owned Nechalacho Deposit, \nThor Lake, NWT is exceptional in its large size and enrichment in the scarce \n'heavy' rare earth elements, key to enabling advances in clean technology and \nother growing high-tech applications. With a positive feasibility study and \nenvironmental assessment completed, the Nechalacho Project is a potential large \nnew source of heavy rare earths outside of China, currently the source of most \nof the world's supply. Social responsibility and environmental stewardship are \ncorporate cornerstones. \nFor questions and feedback, please e-mail the Company at \n [email protected], or phone Don Bubar, President & CEO at \n416-364-4938. \nThis news release contains \"forward-looking statements\" \nwithin the meaning of the United States Private Securities Litigation Reform Act \nof 1995 and applicable Canadian securities legislation. Forward-looking \nstatements include, but are not limited to, statements related to how the \nCompany plans to use the net proceeds from the Offering. Generally, these \nf...