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Avalon Closes $2.5 Million Preferred Share Financing

Published: 03/10/2017

Team: Jay Goldman, Andrea FitzGerald, Alexander Pizale

On March 10, 2017, Avalon Advanced Materials Inc. completed its preferred share financing with an entity managed by The Lind Partners, a New York based asset management firm. The financing involved the issuance of 500 Series A1 Preferred Shares on a private placement basis at a price of $5,000 per share for gorss proceeds of $2,500,000. In addition, Lind received 6,900,000 common share purchase warrants exerciseable until March 10, 2022 at a price of $0.23 per common share.

Cassels Brock represented Avalon with a deal team composed of Jay Goldman, Andrea FitzGerald and Alexander Pizale (Securities & Mining).