Avalon Shareholders Approve Share Consolidation; Board Authorizes Implementation

About this update from Avalon Advanced Materials Inc.

One-for-180 consolidation expected to support potential U.S. exchange listing and broaden investor access Toronto, Ontario--(Newsfile Corp. - June 30, 2026) - Avalon Advanced Materials Inc. (TSX: AVL) (OTCQB: AVLNF) ("Avalon" or the "Company") today announced that shareholders have approved the consolidation of the Company's issued and outstanding common shares (the "Common Shares") and that the Board of Directors has subsequently authorized its implementation on the basis of one post-consolidation Common Share for every 180 pre-consolidation Common Shares (the "Share Consolidation"). At the Company's special meeting of shareholders held on June 29, 2026, the Share Consolidation was approved by 80.107% of the votes cast: A total of 311,602,021 Common Shares, representing approximately 37.209% of the Company's issued and outstanding Common Shares, were represented in person or by proxy at the meeting. "We appreciate the strong support shareholders have provided for this important step in Avalon's capital markets strategy," said Alan Ferry, Chair of the Board of Directors. "After considering the Company's current trading price, prevailing market conditions, and potential future U.S. exchange-listing requirements, the Board determined that a one-for-180 ratio appropriately positions Avalon for the next stage of its development." The Company currently has 835,628,796 Common Shares issued and outstanding, subject to the treatment of fractional shares. Upon completion of the Share Consolidation, approximately 4.64 million Common Shares are expected to be issued and outstanding. The Share Consolidation will not, by itself, alter the proportionate value of a shareholder's investment, except for minor differences resulting from the treatment of fractional shares. The exercise prices and numbers of Common Shares issuable under the Company's outstanding options, warrants and other equity-based securities will be proportionately adjusted in accordance with their terms. The Share Consolidation is subject to final approval by the Toronto Stock Exchange ("TSX") and completion of the customary processing requirements. The Company expects to complete the Share Consolidation as soon as practicable following receipt and satisfaction of all such approvals and requirements. "The Share Consolidation does not change Avalon's underlying value, assets or strategic ...

View stock analysis, news, and events for Avalon Advanced Materials Inc.