Avalon Shareholders Approve Share Consolidation; Board Authorizes Implementation One-for-180 consolidation expected to support potential U.S. exchange listing and broaden investor access
Avalon Shareholders Approve Share
Consolidation; Board Authorizes
Implementation
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:
Voting result
Common Shares
Percentage
For
249,614,857
80.107%
Against
61,987,164
19.893%
Total votes cast
311,602,021
100.000%
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 priorities,"
said Scott Monteith, President and Chief Executive Officer. "It is an enabling step intended to create a
share structure and trading price more consistent with major U.S. exchanges and comparable critical-
minerals companies. Sustainable value creation will continue to depend on our execution—advancing
Nechalacho and Lake Superior Lithium, developing strategic partnerships and securing the capital
required to move these projects forward."
The Share Consolidation is intended to support Avalon's broader capital markets strategy, including its
evaluation of a potential future listing on The Nasdaq Stock Market LLC or another major U.S. securities
exchange, and may broaden the universe of institutional and other investors able or willing to invest in
Avalon and improve the Company's comparability with U.S. exchange-listed peers.
Completion of the Share Consolidation does not constitute approval of, or a commitment to pursue, a
U.S. exchange listing, financing or other capital markets transaction. Any potential U.S. listing would
remain subject to the Company satisfying all applicable listing standards, regulatory review, Board
approval, market conditions and other customary requirements. There can be no assurance that a U.S.
listing will be pursued or completed.
Shareholder Information
Shareholders who hold their Common Shares through a brokerage account or other intermediary
generally will not be required to take any action, as their accounts are expected to be adjusted
automatically.
Registered shareholders holding physical share certificates will receive instructions from TSX Trust
Company, Avalon's transfer agent, regarding the exchange of their pre-consolidation certificates.
Shareholders should not submit certificates until they have received and reviewed those instructions.
No fractional Common Shares will be issued in connection with the Share Consolidation. Any fractional
entitlement will be treated in accordance with the terms described in the Company's management
information circular dated May 29, 2026, which is available on the Company's SEDAR+ profile at
www.sedarplus.ca
and may be obtained without charge, upon request to the corporate secretary of the
Company at Suite 2060, 130 Adelaide Street West, Toronto, Ontario, Canada M5H 3P5, Telephone:
(416) 364-4938.
About Avalon Advanced Materials Inc.
Avalon Advanced Materials Inc. is a Canadian critical minerals company focused on advancing lithium
and rare earth elements—two of the fastest-growing segments of the global energy transition. The
Company is developing strategic assets to participate in high-growth markets and support the build-out
of secure North American supply chains. Avalon is advancing the Nechalacho Rare Earth Elements and
Zirconium Project in the Northwest Territories, which contains all light and heavy rare earth elements, as
well as yttrium, zirconium, tantalum, and niobium—critical minerals used in advanced technologies
across the communications, defense, advanced technologies, and energy sectors. The Company is also
focused on vertically integrating the Ontario lithium supply chain through the development of Lake
Superior Lithium Inc., Ontario's first midstream lithium hydroxide processing facility, located in Thunder
Bay. This facility is expected to serve as a cornerstone of North America's integrated battery materials
supply chain, transforming northern Ontario lithium into essential inputs for transportation, grid storage,
and advanced manufacturing.
For further information regarding Avalon Advanced Materials Inc., please visit
www.avalonadvancedmaterials.com
, or call 416-364-4938.
Cautionary Statement Regarding Forward-Looking Information
This news release contains "forward-looking information" within the meaning of applicable Canadian
securities legislation. Generally, forward-looking information can be identified by the use of forward-
looking terminology such as "add" or "additional", "advancing", "anticipates" or "does not anticipate",
"appears", "believes", "can be", "conceptual", "confidence", "continue", "convert" or "conversion",
"deliver", "demonstrating", "estimates", "encouraging", "expand" or "expanding" or "expansion",
"expect" or "expectations", "forecasts", "forward", "goal", "improves", "increase", "intends",
"justification", "plans", "potential" or "potentially", "promise", "prospective", "prioritize", "reflects",
"robust", "scheduled", "suggesting", "support", "top-tier", "updating", "upside", "will be" or "will
consider", "work towards", or variations of such words and phrases or state that certain actions, events
or results "may", "could", "would", "might", or "will be taken", "occur", or "be achieved".
Forward-looking information is subject to known and unknown risks, uncertainties and other factors
that may cause the actual results, level of activity, performance or achievements of the Company to
be materially different from those expressed or implied by such forward-looking information, including
those risk factors discussed or referred to in the annual information form of the Company dated
November 26, 2025 (the "AIF") under the heading "Description of the Business - Risk Factors".
Forward-looking information is based on the reasonable assumptions, estimates, analysis and
opinions of management made in light of its experience and perception of trends, current conditions
and expected developments, as well as other factors that management believes to be relevant and
reasonable in the circumstances at the date that such statements are made, but which may prove to
be incorrect. Although the Company believes that the assumptions and expectations reflected in such
forward-looking information are reasonable, undue reliance should not be placed on forward-looking
information because the Company can give no assurance that such expectations will prove to be
correct. Although the Company has attempted to identify important factors that could cause actual
results to differ materially from those contained in forward-looking information, there may be other
factors that cause results not to be as anticipated, estimated or intended. There can be no assurance
that such information will prove to be accurate, as actual results and future events could differ
materially from those anticipated in such information. Accordingly, readers should not place undue
reliance on forward-looking information. The Company does not undertake to update any forward-
looking information, except in accordance with applicable securities laws.
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/303347