Avalon Advanced Materials Inc., - CEO, Don Bubar
CEO, Don Bubar
Source: The Globe and Mail
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  • The offering consisting of 2,500,000 flow-through shares at a price of $0.20 per share for gross proceeds of $500,000
  • Avalon paid finder’s fees of $30,000 and issued 150,000 non-transferable finder’s warrants
  • The proceeds will be used to fund planned exploration programs on the company’s Lilypad Cesium-Tantalum Project and Separation Rapids Lithium Project in northwest Ontario
  • Avalon Advanced Materials Inc. is a Canadian mineral development company specializing in sustainably produced materials for clean technology
  • Avalon Advanced Materials Inc. (AVL) is up 3.13 per cent, trading at C$0.165 per share at 1 pm ET

Avalon Advanced Materials (AVL) has completed a non-brokered private placement.

The offering consisting of 2,500,000 flow-through shares at a price of $0.20 per share for gross proceeds of $500,000.

Avalon paid finder’s fees of $30,000 and issued 150,000 non-transferable finder’s warrants. Each finder’s warrant is exercisable to acquire one common share at a price of $0.20 for a period of 24 months from today. Securities issuable under this private placement are subject to a hold period that expires on September 15, 2021.

The proceeds will be used to fund planned exploration programs on the company’s Lilypad Cesium-Tantalum Project and Separation Rapids Lithium Project, both located in northwestern Ontario.

Avalon Advanced Materials Inc. is a Canadian mineral development company specializing in sustainably produced materials for clean technology. The company has four advanced stage projects, providing investors with exposure to lithium, tin and indium, as well as rare earth elements, tantalum, cesium and zirconium.

Avalon is currently focusing on developing its Separation Rapids Lithium Project near Kenora, Ontario while looking at several new project opportunities, including re-activating its 100%-owned Lilypad Cesium-Tantalum-Lithium Project in northwestern Ontario. Social responsibility and environmental stewardship are corporate cornerstones.

Avalon Advanced Materials Inc. (AVL) is up 3.13 per cent, trading at C$0.165 per share at 1 pm ET.

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