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VolitionRx Secures $2.0 Million in Funding
Prnewswire· 2026-01-08 14:15
Core Viewpoint - VolitionRx Limited has entered into an amended agreement with Lind Global Asset Management to secure $2,000,000 in funding through the issuance of a senior secured convertible promissory note and a common stock purchase warrant, enhancing its financial position for future growth [1][2]. Group 1: Financial Details - The company will issue a senior secured convertible promissory note with a principal amount of $2,400,000 and a common stock purchase warrant to purchase up to 7,000,350 shares at an exercise price of $0.5714 per share [1]. - The 2026 Note will be repaid in eighteen monthly installments of $133,333 starting six months after issuance, with the option for the investor to increase payments up to $1,000,000 for two months [3]. - A commitment fee of $70,000 will be paid to the investor, deducted from the funding received [1]. Group 2: Previous Agreements - The amended agreement updates a previous securities purchase agreement from May 15, 2025, where the company issued a senior secured convertible promissory note of $7,500,000 and a warrant for 13,020,834 shares [2]. - Both the 2025 and 2026 Notes are secured by the assets of the company and its subsidiaries [2]. Group 3: Regulatory Compliance - The company is required to file a registration statement within 30 days of closing to cover the resale of shares issued upon conversion of the 2026 Note or exercise of the 2026 Warrant [4]. Group 4: Company Overview - Volition is a multi-national company focused on advancing epigenetics to improve early detection and monitoring of diseases, including cancers and conditions associated with NETosis [6][7]. - The company's research and development activities are primarily based in Belgium, with additional offices in the U.S. and London [8].
Avalon Closes $1,300,000 Lind Financing and Advances Analcime Test Work Project
Newsfile· 2025-07-25 21:05
Core Viewpoint - Avalon Advanced Materials Inc. has successfully closed a second drawdown of $1,300,000 from a convertible security funding agreement totaling up to $15,000,000 with Lind Global Fund II, LP, aimed at advancing strategic projects and corporate initiatives [1][2] Funding Agreement - The company has completed the second drawdown of $1,300,000 from a total funding agreement of $15,000,000 with Lind Global Fund II, LP [1] - The funds will be allocated towards advancing strategic projects, including byproduct innovation through its subsidiary Lake Superior Lithium Inc. [2] Analcime Research Project - Avalon is advancing its Analcime Utilization Project, which aims to enhance the value of byproducts from lithium processing, supported by Ontario's Critical Minerals Innovation Fund [3] - The project focuses on developing solutions for analcime, a byproduct from lithium hydroxide production, which may improve the durability and carbon profile of concrete [4] - Ongoing hydrometallurgical test work is being conducted to produce analcime samples from spodumene concentrate [5] Sustainability and Economic Impact - The analcime project is expected to provide sustainability benefits by reducing carbon emissions and creating new revenue opportunities [6] - Avalon aims to contribute to the repair and expansion of provincial highways while positioning itself as a leader in the global critical minerals economy [7] Company Overview - Avalon Advanced Materials Inc. is focused on developing strategic assets for secure, domestic supply chains in critical minerals, particularly lithium [9] - The company is advancing the Lake Superior Lithium Inc. facility, which will serve as a vital link between northern Ontario's lithium resources and the growing EV battery manufacturing base [9]
Avalon Announces Second Draw from Convertible Securities Agreement with The Lind Partners
Newsfile· 2025-07-21 11:00
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].