Avalon Closes $2.5 million Preferred Share Financing
NEWS RELEASE
March 10, 2017 No. 17-05
Avalon Closes $2.5 million Preferred Share Financing
Toronto, ON – Avalon Advanced Materials Inc. (TSX: AVL and OTCQX: AVLNF) (“Avalon” or the
“Company”) is pleased to announce that it has closed its previously announced preferred share
financing with an entity managed by The Lind Partners, a New York based asset management firm
(“Lind”), as described in the Company’s news release of March 3, 2017.
The financing involved the issuance of 500 Series A1 Preferred Shares on a private placement basis
at a price of $5,000 per share for gross proceeds of $2,500,000. In addition, Lind received 6,900,000
common share purchase warrants exercisable until March 10, 2022 at a price of $0.23 per common
share.
The proceeds will be used for ongoing market development work, metallurgical studies and
preliminary engineering work on the Separation Rapids Lithium Project and for general working
capital purposes. The work at Separation Rapids will include a 2,000 metre diamond drilling
program scheduled to begin during the week of March 20. This program will test projected
extensions of the presently defined petalite resource, known to be enriched in lithium mica
(lepidolite) mineralization.
This news release is not an offer of securities for sale in the United States. The securities have not
been and will not be registered under the US Securities Act of 1933, as amended (the “US
Securities Act”), and may not be offered or sold in the United States or to US persons (as defined in
Regulation S under the US Securities Act) absent registration or an applicable exemption from
registration. All currency reported in this release is in Canadian dollars.
About The Lind Partners
The Lind Partners is a New York-based institutional fund management firm focused on small-and
mid-cap companies publicly traded in Canada, Australia and the UK across mining, oil & gas,
biotech and technology. Lind employs a multi-strategy investment approach: direct investments of
new capital; participation in syndicated equity placements; IPO/pre-IPO investments; and selective
open market trades. Since 2009, the Lind team has completed over 75 direct investments totaling
over $600 million in value.
About Avalon Advanced Materials Inc.
Avalon Advanced Materials Inc. is a Canadian mineral development company specializing in niche
market metals and minerals with growing demand in new technology. The Company has three
advanced stage projects, all 100%-owned, providing investors with exposure to lithium, tin and
indium, as well as rare earth elements, tantalum, niobium, and zirconium. Avalon is currently
130 Adelaide St. W., Suite 1901, Toronto, ON M5H 3P5
Tel: (416) 364-4938 Fax: (416) 364-5162
www.AvalonAdvancedMaterials.com
focusing on its Separation Rapids Lithium Project, Kenora, ON and its East Kemptville Tin-Indium
Project, Yarmouth, NS. Social responsibility and environmental stewardship are corporate
cornerstones.
For questions and feedback, please e-mail the Company at [email protected], or phone Don
Bubar, President & CEO at 416-364-4938.
This news release contains “forward-looking statements” within the meaning of the United States Private Securities Litigation R eform Act
of 1995 and applicable Canadian securities legislation. Forward-l ooking statements include, but are not limited to, statements related to
how the Company plans to use the net proceeds from the financing, that the work at Separation Rapids will include a 2,000 metre
diamond drilling program scheduled to begin during the week of March 20, and that this program will test projected extensions o f the
presently defined petalite resource, known to be enriched in lithi um mica (lepidolite) mineraliza tion. Generally, these forward -looking
statements can be identified by the use of forward-looking termi nology such as “potential”, “sc heduled”, “anticipates”, “continues”,
“expects” or “does not expect”, “is expected”, “scheduled”, “targeted”, “planned”, or “believes”, or variations of such words and phrases or
state that certain actions, events or results “may”, “could”, “would”, “might” or “will be” or “will not be” taken, reached or result, “will occur”
or “be achieved”. Forward-looking statements are subject to known and unknown risks, unc ertainties and other factors that may cause the
actual results, level of activity, perform ance or achievements of Avalon to be materia lly different from those expressed or imp lied by such
forward-looking statements. Forward-looking statements are bas ed on assumptions management believes to be reasonable at the tim e
such statements are made. Although Avalon has attempted to identif y important factors that could cause actual results to differ materially
from those contained in forward-looking statements, there may be other factors that cause results not to be as anticipated, est imated or
intended. Factors that may cause actual results to differ materi ally from expected results described in forward-looking stateme nts include,
but are not limited to market conditions, and the possibility of co st overruns or unanticipated costs and expenses as well as t hose risk
factors set out in the Company’s current Annual Informati on Form, Management’s Discussion and Analysis and other disclosure
documents available under the Company’s profile at www.SEDAR.com. There can be no assurance that such statements will prove to be
accurate, as actual results and future events could differ materia lly from those anticipated in such statements. Such forward-l ooking
statements have been provided for the purpose of assisting invest ors in understanding the Company’s plans and objectives and ma y not
be appropriate for other purposes. Accordingly, readers should not place undue reliance on forwar d-looking statements. Avalon d oes not
undertake to update any forward-looking statements that are contained herein, except in accordance with applicable securities laws.