Avalon Gains Funding for Lithium Facility Expansion

Avalon Advanced Materials Inc. (TSE:AVL) has released an update.

Avalon Advanced Materials Inc. has secured a $15 million funding agreement with Lind Global Fund II, LP to expedite the development of their lithium processing facility in Thunder Bay, Ontario. The initial drawdown of $2.75 million will finance a preliminary economic assessment and meet short-term capital needs, with potential future drawdowns contingent on certain conditions. This strategic move by Avalon aims to strengthen its position in the electric vehicle (EV) battery supply chain.

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