Avalon Completes Share Capital Amendment

March 15, 2021

Toronto, ON – Avalon Advanced Materials Inc. (TSX: AVL and OTCQB: AVLNF) (“Avalon” or the “Company”) is pleased to announce that its Share Capital Amendment, which involved amending the Company’s articles to reflect a 500:1 consolidation of the Company’s common shares, immediately followed by a 1:500 split of the Company’s post-consolidated common shares, became effective today (the “Effective Date”).

Shareholders who held less than 500 common shares in the form of a physical certificate immediately prior to the Effective Date will be paid a cash payment in exchange for their shares (the “Cash Payment”) equal to the number of common shares they held immediately prior to the Share Capital Amendment multiplied by $0.21, which is the volume weighted average trading price of the common shares on the TSX during the five (5) consecutive trading days prior to the Effective Date.  Shareholders holding less than 500 common shares in a brokerage account immediately prior to the Effective Date, and who so elected through their intermediatary, will also be paid the Cash Payment.

All other shareholders will continue to hold the exact same number of shares after the Share Capital Amendment that they did prior to the Share Capital Amendment.  

The Company’s shares are expected to begin trading today on a post-Share Capital Amendments basis on the TSX under the same trading symbol (“AVL”).  On the OTCQB, the trading symbol will temporarily change to “AVLND” for a period of 20 trading days, after which it will revert back to “AVLNF”.

The TSX has conditionally approved the Share Capital Amendment.

About Avalon Advanced Materials Inc.  

Avalon Advanced Materials Inc. is a Canadian mineral development company specializing in sustainably-produced materials for clean technology. The Company now 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 Project in northwestern Ontario. Social responsibility and environmental stewardship are corporate cornerstones. 

For questions and feedback, please email Avalon’s VP, Finance and CFO, Jim Andersen, at [email protected].