Avalon Completes Non-Brokered Private Placement for Gross Proceeds of $450,000
Avalon Completes Non-Brokered Private Placement for
Gross Proceeds of $450,000
Toronto, Ontario--(Newsfile Corp. - August 16, 2017) -
Avalon Advanced Materials Inc.
(
TSX
: AVL) (
OTCQX
: AVLNF)
("Avalon" or the "Company") is pleased to announce that it has completed a non-brokered private placement today consisting of
3,100,000 flow-through shares at a price of $0.145 per share for gross proceeds of $449,500.
In conjunction with this private placement, Avalon paid finder's fees of $26,970 and issued 186,000 non-transferrable finder's
warrants, with each finder's warrant being exercisable to acquire one common share of the Company at a price of $0.145 for a
period of 24 months from today. Pursuant to Canadian securities laws, the securities issuable under this private placement are
subject to a hold period which expires on December 17, 2017. The proceeds from this offering will be used primarily to continue
to advance the Company's Separation Rapids Lithium Project including the summer field work programs currently in progress
and additional metallurgical testwork.
The work program is being supervised by Bill Mercer, P. Geo. (ON) and Vice President, Exploration of Avalon who is a qualified
person for the purposes of National Instrument 43-101.
This press 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 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
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
, 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
Reform Act of 1995 and applicable Canadian securities legislation.
Forward-looking statements include, but are not limited
to, statements
related to how the Company
plans to use the net proceeds from the
Private Placement
and that
proceeds from
this offering will be used primarily to
continue to
advance
the Company's Separation Rapids Lithium Project
.
Generally
and
these forward-looking statements can be identified by the use of forward-looking terminology such as "potential", "scheduled",
"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, uncertainties and other factors that may cause the actual results, level of activity, performance or
achievements of Avalon to be materially different from those expressed or implied by such forward-looking statements.
Forward-looking statements are based on assumptions management believes to be reasonable at the time such statements
are made. Although Avalon has attempted to identify 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,
estimated or intended. Factors that may cause actual results to differ materially from expected results described in forward-
looking statements include, but are not limited to market
conditions, and the possibility of cost overruns or unanticipated
costs and expenses
as well as those risk factors set out in the Company's current Annual Information 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 materially
from those anticipated in such statements. Such forward-looking statements have been provided for the purpose of assisting
investors in understanding the Company's plans and objectives and may not be appropriate for other purposes. Accordingly,
readers should not place undue reliance on forward-looking statements. Avalon does not undertake to update any forward-
looking statements that are contained herein, except in accordance with applicable securities laws.