Avalon Secures $3.5M Funding from Sibelco

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

Avalon Advanced Materials has secured $3.5 million in convertible debenture financing from major shareholder Sibelco to advance its lithium and rare earth projects in Canada. The funding will support the Lake Superior Lithium Project, Nechalacho REE and Zirconium Project, and cover operational expenses, enhancing Avalon’s position in the growing lithium market. The investment underscores Sibelco’s significant role in Avalon’s strategic development.

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