New Risk • Apr 10
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -CA$5.9m This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-CA$5.9m free cash flow). Earnings have declined by 10% per year over the past 5 years. Shareholders have been substantially diluted in the past year (36% increase in shares outstanding). Revenue is less than US$1m (CA$130k revenue, or US$94k). Minor Risks Share price has been volatile over the past 3 months (15% average weekly change). Market cap is less than US$100m (CA$66.8m market cap, or US$48.3m). New Risk • Apr 05
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Canadian stocks, typically moving 19% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (19% average weekly change). Shareholders have been substantially diluted in the past year (36% increase in shares outstanding). Revenue is less than US$1m. Minor Risk Market cap is less than US$100m (CA$62.6m market cap, or US$44.9m). Announcement • Jan 15
Avalon Advanced Materials Inc. Initiates Updated Preliminary Economic Assessment for Nechalacho Project Avalon Advanced Materials Inc. announced the commissioning of a new Preliminary Economic Assessment ("PEA") for its Nechalacho Rare Earths and Zirconium Project in the Northwest Territories. The refreshed PEA is intended to update and modernize the project's 2013 Definitive Feasibility Study ("DFS") by incorporating advances in processing technology and updated capital and operating cost assumptions reflective of current market conditions. Advancing the PEA reflects a strategic effort to align Nechalacho with current technical, commercial, and geopolitical realities - including advances in rare-earth processing technologies, evolving infrastructure and logistics requirements, and the growing emphasis on secure, allied supply chains for critical minerals. The study will integrate updated cost data, revised engineering inputs, and environmental and regulatory considerations, establishing a refreshed economic and technical basis to advance project optimization, financing discussions, and strategic partnerships. The Company has engaged Wood Canada Limited ("Wood") to complete the PEA and NI 43-101 Technical Report. Wood is a global leader in engineering and consulting, with extensive experience delivering prefeasibility and feasibility studies for remote mining projects, including several rare earth elements projects across Canada and the U.S. The Company expects the refreshed PEA to be completed within approximately six months. Thereafter, Avalon intends to proceed directly to a DFS as the next phase of project development, providing the level of engineering, cost definition, and risk validation required to confirm project viability and support project financing, offtake, and strategic partnership discussions. As previously announced in connection with the Company's CAD 18.65 million financing, Avalon is committed to advancing its core rare earth and lithium assets through updated technical and economic studies. The initiation of the updated PEA at Nechalacho demonstrates the Company's execution on those commitments, advancing project readiness and supporting ongoing strategic partnership and financing discussions. Announcement • Dec 23
Avalon Advanced Materials Inc., Annual General Meeting, Feb 26, 2026 Avalon Advanced Materials Inc., Annual General Meeting, Feb 26, 2026. New Risk • Oct 26
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 41% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (35% average weekly change). Shareholders have been substantially diluted in the past year (41% increase in shares outstanding). Revenue is less than US$1m. Minor Risk Market cap is less than US$100m (CA$57.0m market cap, or US$40.7m). Announcement • Oct 24
Avalon Advanced Materials Inc. announced that it has received CAD 18.654 million in funding On October 24, 2025.Avalon Advanced Materials Inc announced that it has closed the transaction. It has issued 133,218,180 non-flow-through units of the Company and an aggregate of 30,769,231 flow-through units of the Company for aggregate gross proceeds of CAD 18,653,999.83. Announcement • Oct 14
Avalon Advanced Materials Inc. announced that it expects to receive CAD 21 million in funding Avalon Advanced Materials Inc announced a brokered private placement under the Listed issuer Financing Exemption to issue up to 154,545,455 Non-Flow Through Units at a price of CAD 0.11 per unit for aggregate proceeds of CAD 17,000,000.05 and up to 30,769,231 flow-through units at a price of CAD 0.13 for aggregate proceeds of CAD 4,000,000.03 and total gross proceeds amounting to CAD 21,000,000.08 on October 14, 2025. Each Non-FT Unit shall be comprised of one common share of the Company and one common share purchase warrant of the Company. Each FT Unit will consist of one Common Share, each of which will qualify as a "flow-through share" within the meaning of subsection 66(15) of the Income Tax Act (Canada) (the "Tax Act"), and one Warrant. Each Warrant will entitle the holder to acquire one Common Share at an exercise price of CAD 0.17 per Warrant Share for a period of 36 months from the Closing Date. The Company has granted the Agents an option to sell up to 27,272,727 additional Non-FT Units at the Non-FT Offering Price to raise additional gross proceeds of up to approximately CAD 3,000,000. The Agents’ Option is exercisable in whole or in part, at any time to 48 hours prior to the closing of the Offering. In consideration for the services provided to the Company in connection with the Offering, the Agents will be entitled to receive a cash commission equal to 6% of the gross proceeds raised under the Offering and such number of broker warrants as is equal to 6% of the number of Units sold under the Offering. Each Broker Warrant will entitle the holder thereof to acquire one common share of the Company at a price of CAD 0.11 per Broker Warrant Share for a period of 36 months following the Closing Date. The transaction is expected to close on or about October 24, 2025 and is subject to receipt of all regulatory approvals including the final acceptance by the Toronto Stock Exchange. New Risk • Jun 03
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: CA$12.5m (US$9.08m) This is considered a major risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-CA$5.3m free cash flow). Share price has been highly volatile over the past 3 months (21% average weekly change). Revenue is less than US$1m. Market cap is less than US$10m (CA$12.5m market cap, or US$9.08m). New Risk • Jan 15
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -CA$4.9m This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-CA$4.9m free cash flow). Share price has been highly volatile over the past 3 months (21% average weekly change). Revenue is less than US$1m. Minor Risks Shareholders have been diluted in the past year (7.4% increase in shares outstanding). Market cap is less than US$100m (CA$21.1m market cap, or US$14.7m). Announcement • Dec 24
Avalon Advanced Materials Inc., Annual General Meeting, Feb 27, 2025 Avalon Advanced Materials Inc., Annual General Meeting, Feb 27, 2025. New Risk • Sep 27
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 2.0% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-CA$13m free cash flow). Revenue is less than US$1m (CA$99k revenue, or US$73k). Minor Risks Share price has been volatile over the past 3 months (17% average weekly change). Shareholders have been diluted in the past year (2.0% increase in shares outstanding). Market cap is less than US$100m (CA$28.6m market cap, or US$21.2m). Announcement • Aug 21
Avalon Advanced Materials Inc. in Conjunction with Its Joint-Venture Partner SCR-Sibelco NV Reports the Second and Final Batch of Drill Results for the 2024 Winter Drill Campaign Avalon Advanced Materials Inc. in conjunction with its Joint-Venture ("JV") partner SCR-Sibelco NV ("Sibelco"), reported the second and final batch of drill results for the 2024 winter drill campaign (which totaled 10 holes) from the Separation Rapids Project in Kenora, Ontario (the "Project"). The 2024 winter drill campaign was conducted by the Joint Venture Company Separation Rapids Ltd., which is 60% owned by Sibelco and 40% owned by Avalon. The results represent 199 assay results from 5 diamond drill holes completed as part of the 2024 expansion and infill drill campaign at the current 750m strike length Big Whopper Deposit. The drill program was intended to upgrade the 2023 Mineral Resource Estimation classification as well as to expand the mineral resources. Drill Highlights includes from Big Whopper Deposit: SR24-121 intersected 1.54% Li2O over 136.95 meters from 321.00m including 2.28% Li2O over 4.00 meters from 421.00m. SR24-119 intersected 1.87% Li2O over 17.15 meters from 284.40m SR24-120 intersected 1.60% Li2O over 12.80 meters from 66.15m. All quoted intersections comprise a cutoff grade of 0.5% Li2O. All significant assay intervals with true widths are reported in Table 1. Scott Monteith, CEO and Director, commented, " These exceptional results taken over very long intervals are a clear indication of the highly efficient drilling program by JV Partner Sibelco. Another long, massive intercept on Hole SR24-121 will be key to growing the mineral resource base. What is exceptionally exciting is the depth potential, with hole SR24-121 effectively intersecting 136.95m mineralization from 321m downhole. This hole supports belief that the company have barely begun to uncover the potential of lithium resources at the Separation Rapids deposit. With its objectives for the 2024 winter drilling campaign accomplished, the company look forward to the upcoming Mineral Resource Estimate". The results from the second batch of the 2024 drill campaign continues to identify mineralization below the current resource pit shell with drill hole SR24-121 intersecting values 0. 5% Li2O over a 136-meter interval, opening the main zone at depth. Eastern drilling shows promise of possible extension to the current resource boundaries. An updated Mineral Resource Estimate (MRE) is planned for Third Quarter of 2024 which will include results of the 2024 winter drill campaign. Total drill meterage will increase from 18,500 meters of drilling to 26,241 meters. A property wide mapping and sampling program was completed in late July 2024 with a focus on satellite targets and areas of limited geological data for further evaluation of the promising potential on the property. This mapping program covered approximately 5 kilometers along strike and is currently being modelled and interpreted for further evaluation. Four drill holes returned significant drill intercepts greater >/=0.5% Li2O". New Risk • Jul 24
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Canadian stocks, typically moving 13% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-CA$13m free cash flow). Revenue is less than US$1m (CA$99k revenue, or US$72k). Minor Risks Share price has been volatile over the past 3 months (13% average weekly change). Market cap is less than US$100m (CA$36.7m market cap, or US$26.7m). New Risk • Jul 11
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -CA$13m This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-CA$13m free cash flow). Revenue is less than US$1m (CA$89k revenue, or US$65k). Minor Risk Market cap is less than US$100m (CA$31.1m market cap, or US$22.8m). Announcement • Apr 17
Avalon Advanced Materials Inc. Announces Commencement of Preliminary Economic Assessment for Avalon's Thunder Bay Lithium Conversion Facility Avalon Advanced Materials Inc. announced that it has engaged DRA Americas Inc., a 100% owned subsidiary of DRA Global ("DRA") to commence a Preliminary Economic Assessment (PEA) of a lithium hydroxide conversion facility. The Project will be administered under AVL's wholly owned subsidiary Lake Superior Lithium Inc. The PEA will consider feed sourcing of high-grade lithium concentrates from various sources. The lithium conversion facility will feature the environmentally friendly Metso lithium conversion technology. The 100% owned site is a 383 Acre site and has direct access to all infrastructure needs including access to 80-100 MW of electrical power, natural gas, town water and sewer, rail and two on site rail spurs, road access near the Trans Canada Highway, and an open water port on the shore of Lake Superior. The proposed production level of the facility would be based on similarly designed units and is anticipated to be in the order of 30,000 tonne per year lithium hydroxide (LiOH) production with an operating life of over 20-years. The facility would be designed to produce both lithium hydroxide and lithium carbonate to address demand for the down stream consumers. Announcement • Mar 18
Avalon Advanced Materials Inc. announced that it expects to receive CAD 15 million in funding from The Lind Partners, LLC Avalon Advanced Materials Inc. announced that the company has entered into a convertible security funding agreement for the gross proceeds of CAD 15,000,000 on March 18, 2024. The first drawdown on the funding agreement will be for CAD 2,750,000. The transaction is expected to close within the next two weeks. The convertible security will have a two-year term and will accrue a simple interest rate obligation of 10% per annum. The transaction will include participation from returning investor, Lind Global Fund II LP, a fund managed by, The Lind Partners, LLC. In conjunction with the closing of the first drawdown under the Funding Agreement, Lind will receive a closing fee of CAD 96,250, and 15,800,000 common share purchase warrants. Each warrant will entitle the investor to purchase one common share of the company at a price of CAD 0.13 per common share until 60 months after closing. Pursuant to Canadian securities laws, the securities issuable under the first drawdown will be subject to a hold period which expires four months and one day after closing. The company has received conditional approval of the TSX in connection with the first drawdown. Announcement • Feb 14
Avalon Advanced Materials Inc. Appoints Scott Monteith as Chief Executive Officer Avalon Advanced Materials Inc. announced the appointment of Mr. Scott Monteith as the Company's Chief Executive Officer. Mr. Monteith, who has been serving as the Company's Interim CEO since May 2023, is an experienced clean tech executive, entrepreneur and business owner with a successful track record of moving inventions from concept to commercial success. Mr. Monteith has led the Company through the acquisition of the site for its planned lithium processing facility in Thunder Bay, Ontario, the formation of its joint venture with SCR-Sibelco NV to develop its Separation Rapids Lithium Project and Lilypad Project, as well as spearheading the overhaul of the Company's strategic direction. Announcement • Dec 16
Avalon Advanced Materials Inc., Annual General Meeting, Feb 27, 2024 Avalon Advanced Materials Inc., Annual General Meeting, Feb 27, 2024. Announcement • Dec 08
Avalon Advanced Materials Inc. announced that it expects to receive CAD 9.3 million in funding Avalon Advanced Materials Inc. announced a non-brokered private placement of 93,000,000 units at a price of CAD 0.1 per unit for the gross proceeds of CAD 9,300,000 on December 7, 2023. Each Unit comprises of one common share and half of one common share purchase warrant Each warrant will entitle the holder to acquire one share at a price of CAD 0.15 per warrant share for a period of 36 months. Closing of the offering will occur in in one or multiple tranches, with the first tranche of the offering expected to close on or about December 15, 2023. It is expected that insiders of the company will subscribe for up to CAD 250,000 of units pursuant to the offering. New Risk • Dec 01
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -CA$14m This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-CA$14m free cash flow). Earnings have declined by 1.0% per year over the past 5 years. Revenue is less than US$1m (CA$124k revenue, or US$92k). Minor Risks Shareholders have been diluted in the past year (34% increase in shares outstanding). Market cap is less than US$100m (CA$58.8m market cap, or US$43.4m). Announcement • Oct 26
Avalon Advanced Materials Inc. Announces Appointment of Timothy Haig to Its Board of Directors Avalon Advanced Materials Inc. announced the appointment of Timothy Haig to its Board of Directors. Mr. Haig is currently the CEO and founder of FORGE Hydrocarbon Corporation He has raised over $500m in growth capital for several companies both public and private Holds expertise in industrial process optimization, early-stage financing and technology scale-up Brings deep experience in non-carbon intensive, alternative energy commercialization Prior to that, Mr. Haig was co-founder of BIOX Corp., a renewable fuels company that was founded on a technology developed at the University of Toronto. The executive successfully took an idea from lab patent in 2000 to a public company in 2010. Mr. Haig subsequently helped take BIOX Corp. private in 2017, merging the enterprise with the second-largest renewable fuels producer in North America. Mr. Haig holds an industrial engineering degree (PEng.) from the Royal Military College of Canada, and Masters of Business Administration (MBA) from London City University. He served for more than a decade in the Canadian Armed Forces and the Canadian Special Operations Forces Command, in various officer positions. John E. Fisher, who has stepped down from the Board of Directors. Mr. Fisher joined the board in February 2020, providing valuable counsel in his time with the Company. Avalon is grateful for his contributions. Announcement • Oct 05
Avalon Advanced Materials Inc. Commences New $3.6 Million Drilling Program At Separation Rapids Joint Venture Lithium Deposit Avalon Advanced Materials Inc. announced the commencement of a new comprehensive drilling program at Separation Rapids, the Avalon-Sibelco joint venture lithium deposit in Northwestern Ontario. New Drill Program Highlights: 8,000mrdrilling program intended to upgrade the Inferred resources to Indicated status; Pontial increasese of the total lithium resource available in the open pit and underground portions of the project; CAD 3.6 million (EUR2.51 million) of capital budget with an estimated program duration of four months; First major capital initiative funded by the new Avalon-Sibelco joint Venture lithium deposit; Thisis is the logical and exciting next step in moving Sepation Rapids forward into commercial productionon. The MRE results confirmed sufficient qualities in the Separation Rapids deposit for both the glass-ceramics and lithium battery markets. In addition, the MRE indicated the potential of an additional 3Mt to 6Mt of available resource, with an average grade of between 1.0% and 1.4% Li(2) O, which the current drilling program will seek to confirm. Avalon retained Major Drilling Group International Inc. to conduct the work program. Major Drilling Group is one of the largest drilling services providers in the world, with over 3,500 employees across five continents. objectives of the Drilling Program: Priority y 1: Upgrade the Inferred to Indicated category in the open pit; Priority 2: st east and west extension on strike to increase total pit resource; Priority 3: Upgrade the Inferred toIndicated category and add further resource in the underground. This new Separation Rapids drilling program follows the acquisition in June of the Strathcona property in Thunder Bay, ON., a 383-acre industrial site that is intended to host Ontario's first lithium hydroxide conversion facility built and operated by Avalon. Avalon and Sibelco are continuing to negotiate in good faith a definitive agreement in respect of the joint venture. Board Change • Oct 01
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Director Alec Kodatsky was the last director to join the board, commencing their role in 2023. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Announcement • Sep 12
Avalon Advanced Materials Inc. Announces Director Changes Avalon Advanced Materials Inc. announced the addition of two new directors who bring extensive expertise in international capital markets and resource development. Alec Kodatsky, Founding Partner, Forthlane Partners Ltd., and former Brendon-Woods "Top Gun" metals and mining equity analyst and a mining engineer, joins Avalon as a member of its Board of Directors (the "Board"). Benny Loix, Vice President – Commercial North America, at SCR Sibelco NV ("Sibelco") joins Avalon as Sibelco's nominee to the Board. These appointments will further support a new growth phase at Avalon, consisting of bringing the Company's portfolio of critical minerals assets into production, as well as building a vertically integrated lithium supply chain in Ontario. Mr. Kodatsky, based in Toronto, who will also join the Company's Audit Committee, brings more than two decades of experience conducting in-depth financial analysis and research in the metals and mining sector. He has extensive experience in firsthand assessments of operating and developmental mining assets for institutional and investment banking clients in Canada and internationally. ursuant to the terms of an investor rights agreement entered into between Avalon and Sibelco on June 14, 2013 as part of the joint venture between the two companies, Mr. Loix, who will be based in Charlotte NC, joins Avalon to accelerate the development of Avalon's portfolio of lithium deposits. He has served in Sibelco's Treasury Executive Vice President Group since 2008, being in charge of global M&A, insurance and risk management and was recently appointed as Sibelco's Vice President for North America. Marilyn Spink, a Director since June 2020, has retired from the Board. Announcement • Aug 12
Avalon Advanced Materials Inc. Announces an Updated Mineral Resource Estimate for the Avalon-Sibelco Joint Venture Lithium Deposit At Separation Rapids Avalon Advanced Materials Inc. announced an updated Mineral Resource Estimate ("MRE") for the Avalon-Sibelco joint venture lithium deposit at Separation Rapids. This updated MRE, compliant with NI 43-101, reports 10.08 million tonnes (Mt) averaging 1.35% of Measured and Indicated Lithium Oxide ("Li2O"), a 20% increase compared to previous results. The MRE for the Separation Rapids lithium deposit was conducted by SLR Consulting (Canada) Ltd. ("SLR"), an independent global mining advisory and consulting firm, using available drill hole data as of June 16, 2023. The MRE was prepared in accordance with National Instrument 43-101 Standards of Disclosure for Mineral Projects ("NI 43-101"). The updated MRE is based on 98 surface diamond drill holes for a total of 17,444m of drilling. This includes 13 new surface diamond drill holes totaling 4,128.3m1 drilled since the 2018 resource estimate. The new resource estimate will be incorporated into a definitive feasibility study of Separation Rapids, to. be completed by early to mid-2024, with the intention of commencing on-site operations in 2026. New Risk • Jun 29
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Canadian stocks, typically moving 12% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Earnings have declined by 3.5% per year over the past 5 years. Revenue is less than US$1m. Minor Risks Share price has been volatile over the past 3 months (12% average weekly change). Shareholders have been diluted in the past year (38% increase in shares outstanding). Market cap is less than US$100m (CA$71.7m market cap, or US$54.1m). Announcement • Jun 17
Avalon Advanced Materials Inc. announced that it has received CAD 13.000031 million in funding from SCR-Sibelco N.V. Avalon Advanced Materials Inc. announced a non-brokered private placement of 109,692,764 common shares at an issue price of CAD 0.091164 per share for the gross proceeds of CAD 10,000,031 and secured convertible debenture for gross proceeds of CAD 3,000,000 for aggregate gross proceeds of CAD 13,000,031 on June 15, 2023. The transaction included participation from new investor, SCR-Sibelco N.V. for 19.9% stake in the company. The secured convertible debenture, providing for two advances to the company of CAD 500,000 on the date hereof and CAD 2,500,000 subject to the satisfaction of certain conditions precedent. The debenture bears interest at 7.115% per annum and the principal and interest are payable on maturity June 15, 2025, being two years from the date of the debenture. The company also granted to SCR-Sibelco N.V., for so long as SCR-Sibelco N.V. holds not less than 10% of the issued and outstanding common shares on a non-diluted basis. SCR-Sibelco N.V. also agreed to a 12-month standstill and certain resale restrictions placed on its holdings in the company. Announcement • May 20
Avalon Advanced Materials Inc. Announces the Retirement of Don Bubar as CEO Avalon Advanced Materials Inc. announced the retirement of its long-standing CEO, Don Bubar. Don will continue to serve on Avalon's Board of Directors. Scott Monteith, who was appointed to Avalon's Board of Directors in May 2023, will assume the role of Interim CEO.Mr. Monteith is an experienced clean tech executive, entrepreneur and business owner with a successful track record of moving inventions from concept to commercial success. Currently, he holds the position of Chair of Monteco Ltd., Cable House Capital Ltd. and Imtex Membranes Corporation. Mr. Monteith has extensive experience in the areas of chemical manufacturing, international businesses, M&A, government affairs and strategic planning. Don Bubar has been leading Avalon for more than 25 years, initially steering the Company towards its focus on critical minerals, and subsequently pioneering ESG and sustainability reporting within the junior mining sector. During his time at Avalon, Don grew the Company's flagship Separation Rapids Lithium Project from exploration to development stage, positioning the project for the upcoming demand in lithium, driven by the shift to electrification. Recent Insider Transactions • Feb 17
VP of Operations & COO recently bought CA$53k worth of stock On the 13th of February, Rickardo Welyhorsky bought around 350k shares on-market at roughly CA$0.15 per share. This transaction amounted to 88% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. This was Rickardo's only on-market trade for the last 12 months. Announcement • Jan 25
Avalon Advanced Materials Inc. Appoints Rickardo Welyhorsky as Chief Operating Officer Avalon Advanced Materials Inc. has appointed Mr. Rickardo Welyhorsky, P. Eng., as its Vice President, Operations and Chief Operating Officer. Mr. Welyhorsky is a registered Professional Metallurgical Engineer with over 29 years of experience spanning all levels of project development and operations in the mining and metals industry. He brings to Avalon a wealth of industry experience within various roles including metallurgical test work, feasibility study work, engineering, construction, commissioning, start-up as well as operations and maintenance. While most of his recent experience has been in the gold sector, his vast experience will mesh well with the development needs to advance the Separation Rapids Lithium Project as well as the proposed lithium refinery. Mr. Welyhorsky has a background in Chemical Engineering Technology and Environmental Management from Cambrian College in Sudbury, Ontario as well as a Bachelor's degree in Metallurgical Engineering from Laurentian University. Announcement • Dec 17
Avalon Advanced Materials Inc., Annual General Meeting, Feb 23, 2023 Avalon Advanced Materials Inc., Annual General Meeting, Feb 23, 2023. Announcement • Dec 15
Avalon Advanced Materials Inc. announced that it has received CAD 1.950006 million in funding Avalon Advanced Materials Inc. announced a non-brokered private placement of 11,470,624 flow-through units at a price of CAD 0.17 per unit for gross proceeds of CAD 1,950,000 on December 14, 2022. Each flow-through unit comprises of one flow-through common share and one half of one common share purchase warrant, with each whole warrant entitling the holder to acquire one non-flow-through common share of the company at a price of CAD 0.25 for a period of 24 months from closing. The company paid finder's fees of CAD 117,000, half of which was settled with 487,501 common shares of the company at a deemed price of CAD 0.12 per share. Pursuant to Canadian securities laws, the securities issuable under this private placement are subject to a hold
period which expires four months and one day from closing. Reported Earnings • Nov 29
Full year 2022 earnings released: CA$0.01 loss per share (vs CA$0.011 loss in FY 2021) Full year 2022 results: CA$0.01 loss per share. Net loss: CA$3.95m (loss widened 5.1% from FY 2021). Announcement • Aug 18
Avalon Advanced Materials Inc. Provides Update on Separation Rapids Lithium Project Avalon Advanced Materials Inc. provided an update on its preparations for the installation and commissioning of its demonstration Dense Media Separation plant for the Separation Rapids Lithium Project north of Kenora, Ontario. Roadwork and site preparation work for the installation and commissioning of the DMS plant have commenced at the Avalon Quarry site along the Avalon Road to the Separation Rapids project site. The Avalon Quarry site is a permitted Aggregate Quarry located approximately 2 km north of the Sand Lake Road and approximately 7 km south of the project site. Aggregate for the road work will be produced at this Quarry as part of an initiative to prepare the road for heavy equipment transport and to prepare the site for the DMS plant installation. The aggregate production, road repairs, site preparation and bulk sample crushing and hauling is being done by SOW Construction Limited Partnership, a joint venture between Moncrief Construction Limited, a large Kenora-based construction contractor and Wabaseemoong Independent Nations, in whose traditional territory the Project is located. This work is now underway and is expected to be completed later this summer. The 5,000 tonne bulk sample collected from the project site in 2021 will now be crushed and returned to the Quarry site as initial feed for the DMS Plant to begin producing petalite concentrate product samples for the many international glass-ceramic manufacturers that have expressed interest. The plant will also be used to produce potential by-products including rubidium bearing K-feldspars which are also used in certain ceramic applications. Installation of the demonstration DMS plant is expected to begin this fall with the plant expected to be operational by Spring 2023. Meanwhile, the Company continues to progress towards acquisition of an industrial site in Thunder Bay that would be the location for establishing the Company's planned regional lithium battery materials refinery. An appropriate site has been identified and an offer made with the acquisition expected to be completed in September, once debt financing has been arranged. Reported Earnings • Jul 14
Third quarter 2022 earnings released: CA$0.004 loss per share (vs CA$0.002 profit in 3Q 2021) Third quarter 2022 results: CA$0.004 loss per share (down from CA$0.002 profit in 3Q 2021). Net loss: CA$1.71m (down 416% from profit in 3Q 2021). Over the last 3 years on average, earnings per share has increased by 7% per year but the company’s share price has increased by 24% per year, which means it is tracking significantly ahead of earnings growth. Reported Earnings • Apr 14
First half 2022 earnings released: CA$0.003 loss per share (vs CA$0.013 loss in 1H 2021) First half 2022 results: CA$0.003 loss per share (up from CA$0.013 loss in 1H 2021). Net loss: CA$1.25m (loss narrowed 74% from 1H 2021). Over the last 3 years on average, earnings per share has fallen by 4% per year but the company’s share price has increased by 63% per year, which means it is well ahead of earnings. Reported Earnings • Jan 14
First quarter 2022 earnings: EPS misses analyst expectations First quarter 2022 results: CA$0.002 loss per share (vs CA$0.002 loss in 1Q 2021). Net loss: CA$680.4k (loss narrowed 10% from 1Q 2021). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 46%. Earnings per share (EPS) missed analyst estimates by 46%. Over the last 3 years on average, earnings per share has fallen by 11% per year but the company’s share price has increased by 43% per year, which means it is well ahead of earnings. Announcement • Dec 22
Avalon Advanced Materials Inc. announced that it has received CAD 1.383999 million in funding Avalon Advanced Materials Inc. announced a non-brokered private placement of 9,099,994 flow-through units at a price of CAD 0.12 per flow-through unit for gross proceeds of CAD 1,091,999.28 and 2,920,000 non-flow through units at a price of CAD 0.1 per non-flow through unit for gross proceeds of CAD 292,000 for an aggregate gross proceeds of CAD 1,383,999 on December 21, 2021. Each flow-through unit consists of one common share and one half of common share purchase warrant. Each warrant can be exercised to acquire one common share at a price of CAD 0.18 per share for a period of two years from the date of closing. Each non-flow through unit consists of one common share and one half of common share purchase warrant. Each warrant can be exercised to acquire one common share at a price of CAD 0.15 per share for a period of two years from the date of closing. The securities are being subject to four months and one day hold period expiring on April 22, 2022. The transaction included participation from Donald Bubar, President and chief executive officer, subscribing for 250,000 flow-through units and Alan Ferry, chair of the board of directors, subscribed for 300,000 flow-through units. The company paid a finder fee of CAD 90,580 and issued 788,900 non transferrable finder's warrants, with each finder's warrant being exercisable to acquire one common share of the company at a price of CAD 0.18 for a period of 24 months. Reported Earnings • Nov 28
Full year 2021 earnings: EPS misses analyst expectations Full year 2021 results: CA$0.011 loss per share (up from CA$0.016 loss in FY 2020). Net loss: CA$3.76m (loss narrowed 30% from FY 2020). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 46%. Earnings per share (EPS) missed analyst estimates by 46%. Over the last 3 years on average, earnings per share has fallen by 14% per year but the company’s share price has increased by 21% per year, which means it is well ahead of earnings. Announcement • Sep 24
Avalon Advanced Materials Inc. Reports Encouraging Initial Cesium Assay Results from Recent Lilypad Project Field Program Avalon Advanced Materials Inc. announced that it has received initial assay results from grab samples collected during the summer exploration program on the Lilypad Cesium Project located 350 km north of Thunder Bay, Ontario. The new results confirm the exceptional cesium enrichment in several Lithium-Cesium-Tantalum ("LCT") pegmatite dyke occurrences on the property. Cesium is a rare element in growing demand for many new technologies, but with very limited supply following the cessation of mine production from the world's largest historical producer, the Tanco mine, near Bernic Lake, Manitoba. The work program included line cutting, soil and biogeochemistry grid sampling, as well as geological mapping and sampling over the area of the known LCT pegmatite field. The soil and biogeochemistry results have not yet been received but are anticipated to indicate directions for extensions of the known pegmatites and identify new pegmatite targets in overburden-covered areas for testing in a future drill program. Additional bulk sampling of the cesium-rich Pollucite Dyke was also carried out and Avalon now has about 400 kg of the pollucite mineralization available for further metallurgical testwork. Sub-samples of the bulk sample assayed at Saskatchewan Research Council averaged 3.02% Cs2O, 1.07% Li2O and 0.03% Ta2O5, similar to the average grade of the historic resource. Reported Earnings • Jul 17
Third quarter 2021 earnings released: EPS CA$0.002 (vs CA$0.002 loss in 3Q 2020) Third quarter 2021 results: Net income: CA$540.9k (up CA$1.12m from 3Q 2020). Over the last 3 years on average, earnings per share has fallen by 16% per year but the company’s share price has increased by 17% per year, which means it is well ahead of earnings. Announcement • May 15
Avalon Advanced Materials Inc. announced that it has received CAD 0.5 million in funding Avalon Advanced Materials Inc. (TSX:AVL) announced a non-brokered private placement to issue 2,500,000 flow-through shares at a price of CAD 0.20 per flow-through share for gross proceeds of CAD 500,000 on May 14, 2021. The securities issued under the private placement are subject to a hold period which expires on September 15, 2021. The company paid finder's fees of CAD 30,000 and issued 15,000 non-transferrable finder's warrants, with each finder's warrant being exercisable to acquire one common share of the company at a price of CAD 0.20 for a period of 24 months from closing. Reported Earnings • Apr 16
Second quarter 2021 earnings released: CA$0.011 loss per share (vs CA$0.005 profit in 2Q 2020) Second quarter 2021 results: Net loss: CA$3.95m (down 332% from profit in 2Q 2020). Over the last 3 years on average, earnings per share has increased by 3% per year but the company’s share price has increased by 13% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Feb 18
Avalon Advanced Materials Inc. (TSX:AVL) entered into a binding letter of intent to acquire 2333382 Ontario Inc. for CAD 16 million. Avalon Advanced Materials Inc. (TSX:AVL) entered into a binding letter of intent to acquire 2333382 Ontario Inc. for CAD 16 million on February 17, 2021. Pursuant to the transaction, the total purchase price of CAD 16 million is payable in a combination of cash and common shares of Avalon over a period of two years. The initial payment of CAD 0.2 million in cash and the issuance of 1,000,000 common shares priced at the 5-day volume weighted average trading price of Avalon's common shares on the Toronto Stock Exchange is due and payable on signing of the agreement. The balance of the purchase price will be made in installments at six-month intervals with the next payment of CAD 0.9 million due on August 15, 2021, with Avalon having the option to make 50% of the next payment in common shares at its discretion. The transaction is subject to the approval of the TSX, and the execution of a definitive purchase and sale agreement by the parties which is expected to contain customary closing conditions for a transaction of this nature. Is New 90 Day High Low • Feb 18
New 90-day high: CA$0.24 The company is up 200% from its price of CA$0.08 on 19 November 2020. The Canadian market is up 11% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Metals and Mining industry, which is up 3.0% over the same period. Announcement • Feb 02
Avalon Advanced Materials Inc. announced that it has received CAD 3 million in funding from The Lind Partners, LLC On February 1, 2021, Avalon Advanced Materials Inc. (TSX:AVL) closed the transaction. Announcement • Jan 26
Avalon Advanced Materials Inc. announced that it expects to receive CAD 3 million in funding from The Lind Partners, LLC Avalon Advanced Materials Inc. (TSX:AVL) announced that it has entered into a convertible security funding agreement with an entity managed by existing investor The Lind Partners, LLC for gross proceeds of CAD 3,000,000 on January 25, 2021. The convertible security has a 2 year term and will accrue a simple interest rate obligation of 10% per annum on the funded amount, which is prepaid and attributed to its face value upon issuance, resulting in a face value of CAD 3,600,000. The investor will be entitled to convert the face value amount over a 24 month period, subject to certain limits, at a conversion price equal to 85% of the five day trailing volume weighted average price prior to the date of conversion. The convertible security matures 24 months after closing. The company has the right to repurchase the convertible security at any time, subject to the investor's option to convert up to one third of the face value into common shares prior to this repurchase. The investor will receive a closing fee of CAD 90,000, and 9,800,000 common share purchase warrants. Each warrant entitles the holder to purchase one share at a price of CAD 0.18 per common share until 48 months after closing. The securities issuable will be subject to a hold period which expires four months and one day after closing. The company has received conditional approval of the Toronto Stock Exchange. Is New 90 Day High Low • Jan 26
New 90-day high: CA$0.23 The company is up 207% from its price of CA$0.075 on 27 October 2020. The Canadian market is up 14% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Metals and Mining industry, which is down 1.0% over the same period. Reported Earnings • Jan 15
First quarter 2021 earnings released: CA$0.002 loss per share First quarter 2021 results: Net loss: CA$758.1k (loss widened 32% from 1Q 2020). Over the last 3 years on average, earnings per share has increased by 27% per year but the company’s share price has only increased by 1% per year, which means it is significantly lagging earnings growth. Announcement • Dec 19
Avalon Advanced Materials Inc., Annual General Meeting, Feb 25, 2021 Avalon Advanced Materials Inc., Annual General Meeting, Feb 25, 2021. Announcement • Nov 18
Avalon Advanced Materials Inc. Enters into a Letter of Intent with Rock Tech Lithium Inc to Collaborate on the Development of a Lithium Battery Materials Process Facility Avalon Advanced Materials Inc. announce it has entered into a Letter of Intent with Rock Tech Lithium Inc. to collaborate on the development of a lithium battery materials process facility in Thunder Bay, Ontario. This facility would be designed to accept lithium mineral concentrates from Avalon's Separation Rapids Lithium Project (70 km north of Kenora) and Rock Tech's Georgia Lake Lithium Project (145 km northeast of Thunder Bay), as well as potentially other emerging, new lithium mining operations in northern Ontario, to produce lithium sulphate, a precursor chemical for lithium-ion batteries. Avalon and Rock Tech have determined the next steps as follows: Design a process flowsheet that allows the treatment of petalite, spodumene and potentially other lithium mineral concentrates. The product of the flowsheet will be lithium sulphate, that can either be shipped off site or locally upgraded to lithium carbonate or lithium hydroxide. Conduct a piloting campaign using this process flowsheet to prove scalability of the process to industrial scale and Feasibility level. Identify alternative applications for high purity aluminum silicate by-product in other industries, such
as the cement or ceramics industry. Announcement • Oct 16
Avalon Advanced Materials Inc. Re-Activates Its 100% Owned Lilypad Cesium-Tantalum-Lithium Project Avalon Advanced Materials Inc. announce that it has re-activated its 100% owned Lilypad Cesium-Tantalum-Lithium Proj ct ("Lilypad") due to increasing demand for cesium. Cesium is a rare element in growing demand for many new technologies, but with very limited supply following the cessation of production from the world's historical producer, the Tanco mine, near Bernic Lake, Manitoba. The Lilypad Property consists of 14 claims covering 3,108 ha located approximately 350 km north of Thunder Bay, near the community of Fort Hope in the traditional territory of the Eabametoong First Nation. Historical work by Avalon at Lilypad in 2001-2, that was focused on defining tantalum resources, was also successful in identifying widespread occurrences of the cesium ore mineral pollucite ((Cs,Na)2Al2Si4O122H2O) in a field of highly fractionated lithium-cesium-tantalum ("LCT") pegmatite dykes. Avalon's recent work involved a short field program to collect 200 kg of cesium mineralized pegmatite rock for study on how to efficiently concentrate the pollucite mineralization which, unlike most such occurrences, is found widely distributed throughout the many LCT pegmatite dykes on the property. Planned follow-up work will initially involve mineralogical and analytical testwork to characterize in detail how the pollucite occurs, which will be followed by metallurgical process testwork to identify the most efficient methods for concentrating the pollucite and recovering by-product tantalum and lithium. Most of the 200 kg of sample material was collected from one occurrence known as the Pollucite Dyke. It was drilled by Avalon in 2001 and a preliminary resource was estimated in 2001 to contain roughly 340,000 tonnes grading 2.294% Cs2O and 0.037% Ta2O5 based on 9 holes drilled to a maximum vertical depth of 250 metres. The resource is open to depth and along strike for expansion. Other similar pollucite-bearing LCT pegmatite dykes on the property remain untested. Announcement • Oct 08
Avalon Advanced Materials Inc. Provides Update on Metallurgical Process Optimization Work for Separation Rapids Lithium Project, Kenora Avalon Advanced Materials Inc. provided an update on its Separation Rapids Lithium Project situated approximately 70 km by road north of Kenora, Ontario. The Company is continuing to look at market opportunities to serve both the glass-ceramics market with its lithium mineral product and the lithium battery materials market with its high purity lithium hydroxide product. In its 2016 Preliminary Economic Assessment, Avalon developed a proprietary process flowsheet to produce a high purity lithium hydroxide product from petalite for the lithium battery material market. The flowsheet has the advantage of generating limited waste by the recycling of the sulphuric acid solvent. To further optimize this flowsheet, Avalon has shipped a 50 kg sample of petalite concentrate to XPS in Sudbury, Ontario to generate leach solution for use in optimizing the final stages of the process, which involves the use of electrolysis to produce lithium hydroxide. The program will focus on an improved membrane alternative and efficient crystallization of the final high purity product. The results will enable finalizing equipment selection and design. With Ontario Premier Doug Ford recently announcing Ontario's interest in establishing new battery materials supply chains in the province, Avalon is investigating collaborative opportunities to establish a lithium processing facility in Northwestern Ontario. The facility being planned would produce lithium hydroxide, and would also accept concentrates from other producers of lithium minerals from the many pegmatite deposits that occur in northern Ontario. Announcement • Aug 26
Avalon Advanced Materials Inc. announced that it has received CAD 0.54 million in funding Avalon Advanced Materials Inc. (TSX:AVL) announced a non-brokered private placement of 6,000,000 flow-through units at a price of CAD 0.09 per unit for gross proceeds of CAD 540,000 on August 25, 2020. Each unit consists of one flow-through common share and one-half common share purchase warrant. Each warrant shall entitle the holder to acquire one non-flow-through common share at a price of CAD 0.12 until August 25, 2022. The company paid finder's fees of CAD 32,400 in the transaction. The securities issued in the transaction are subject to a hold period which expires on December 26, 2020.