Avalon Announces $3.5M Financing from JV Partner and Major Shareholder Sibelco
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Avalon Advanced Materials Inc. has secured CAD $3.5 million in convertible debenture financing from its major shareholder, Sibelco. The funds will support Avalon's Lake Superior Lithium Project, Nechalacho REE and Zirconium Project, and general expenses.
November 18, 2024 | 12:30 pm
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Avalon Advanced Materials Inc. received CAD $3.5 million in financing from Sibelco, which will be used to advance its key projects and cover expenses.
The financing from Sibelco provides Avalon with necessary capital to advance its projects, which is likely to be viewed positively by investors, potentially boosting the stock price.
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