Avalon Announces Second Draw from Convertible Securities Agreement with The Lind Partners

Core Viewpoint - Avalon Advanced Materials Inc. has entered into a supplemental funding agreement to draw down an additional $1,300,000 from a $15,000,000 convertible security funding agreement with Lind Global Fund II, LP, aimed at supporting ongoing projects and general corporate purposes [1][2]. Funding Agreement Details - The second drawdown of $1,300,000 is expected to close within two weeks [2]. - The convertible security will have a two-year term with a simple interest rate of 10% per annum, resulting in a face value of $1,560,000 [3]. - Lind can convert the face value over a 24-month period at a conversion price equal to 85% of the five-day trailing volume weighted average price of Avalon's common shares prior to conversion [3]. Additional Financial Terms - Lind will receive a closing fee of $45,500 and 10,600,000 common share purchase warrants, allowing the purchase of common shares at $0.09 each for 60 months post-closing [4]. - The securities from the second drawdown will be subject to a hold period of four months and one day after closing, with conditional approval from the TSX [5]. Company Overview - Avalon Advanced Materials Inc. is focused on developing critical minerals essential for Canada's future, particularly in the lithium supply chain [8]. - The company is advancing the Lake Superior Lithium Inc. project, which is Ontario's first midstream lithium hydroxide processing facility, and is involved in other lithium and rare earth projects [8].