“Avalon is extremely grateful for Lind’s support over the past eight years, who has provided more than $15 million in invested capital,” said Scott Monteith, President and Chief Executive Officer of Avalon. “Completing the financing marks another step forward and reflects our commitment to prudent capital management and long-term shareholder value creation. Avalon continues to transition into a new phase – one focused on strategic partnerships, disciplined execution and the continued advancement of our rare earths and lithium initiatives.”
About De Lind Partners
The Lind Partners manages institutional funds that are leaders in providing growth capital to small and medium-sized companies listed in the US, Canada, Australia and the UK. Lind’s multi-strategy funds make direct investments ranging from $1 million to $30 million, invest in syndicated equity placements and buy selectively from the market. Having made more than 200 direct investments with a total transaction value of more than $2 billion, Lind’s funds have been flexible and supportive capital partners to companies in which they invest since 2011.
About Avalon Advanced Materials Inc.
Avalon Advanced Materials Inc. is a Canadian critical minerals company advancing the supply of materials essential to a resilient North American supply chain. The company focuses on developing strategic assets that support secure, domestic supply chains and long-term economic growth. 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 in the communications, defense, clean technology and energy sectors. The company is also focused on vertically integrating Ontario’s 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 will serve as a vital link between northern Ontario’s lithium resources and the growing EV battery manufacturing base in southern Ontario and North America. Through a joint venture with SCR Sibelco NV, Avalon is advancing the Separation Rapids Lithium Project near Kenora, Ontario, and continuing exploration of the Snowbank lithium and Lilypad lithium-cesium deposits.
Cautionary Note Regarding Forward-Looking Information
This press release contains “forward-looking information” within the meaning of applicable Canadian securities legislation. Forward-looking information includes statements related to entering into a financing agreement and strengthening the balance sheet. Generally, forward-looking information can be identified by the use of forward-looking terminology such as “add” or “additional,” “progress,” “anticipates” or “does not anticipate,” “appears,” “believes,” “may be,” “conceptual,” “confidence,” “continue,” “convert” or “conversion,” “deliver,” “demonstrate,” “estimate,” “encourage,” “extend” or “extend” or “expand,” “expect” or “expectations”, “forecasts”, “forward”, “target”, “improves”, “increases”, “intends”, “justification”, “plans”, “potential” or “potential”, “promise”, “prospective”, “priority”, “reflects”, “robust”, “planned”, “suggests”, “support”, “top level”, “update”, “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”, “could”, 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 risks associated with mineral exploration and development, such as: environmental risks and economic factors affecting the cost and success of the Company’s capital expenditures, the Company’s ability to obtain required permits and approvals, the ability of the Company to obtain financing, uncertainty in the estimation of mineral resources, uncertainty regarding the ability to successfully construct and develop the Company’s lithium processing facility, the price of lithium, no operating history, no operating income and negative cash flow, land ownership risk, the market price of the Company’s securities, the economic viability of the Company’s mineral resources and the commercial viability of the Company, inflation and uncertain global economic conditions, uncertain geopolitical shifts and risks, successful collaboration with indigenous communities, changes in technology and advances in innovation may affect the development of the Company’s Technology Innovation Center and its lithium hydroxide processing facility, future pandemics and other health crises, dependence on management and other highly qualified personnel, ownership of the Company’s mineral properties, the ongoing war in Ukraine and Israel, extensive government and environmental regulations, dependence on artificial intelligence technology to influence mining operations, financial market volatility, uninsured risks, climate change, the threat of legal proceedings, as well as the risk factors discussed or referred to in the Company’s Annual Information Form dated November 28, 2024 (the “AIF”) under the heading “Description of the Company – Risk Factors.” Forward-looking information is based on management’s reasonable assumptions, estimates, analyzes and opinions 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 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 as the Company can give no assurance that such expectations will prove to be correct. In addition to other factors and assumptions identified in the AIF, assumptions have been made regarding, among other things: the management of certain of the Company’s assets by other companies or joint venture partners, the Company’s ability to continue its exploration and development activities without undue delays or unbudgeted costs, the Company’s ability to obtain suitably qualified personnel, equipment and services on a timely and cost-effective basis, the Company’s ability to operate in a safe, efficient and effective manner, the Company’s ability to obtain all necessary financing at an acceptable cost. conditions and where necessary, the accuracy of the Company’s resource estimates and the geological, operational and pricing assumptions on which they are based, and the continuation of the regulatory framework regarding environmentally sound practices. Readers are cautioned that the foregoing list is not exhaustive of all factors and assumptions that may have been used. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in the 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.
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