Files Preliminary Base Shelf Prospectus and US Registration Statement
Toronto, Aug 23, 2013 AEST (ABN Newswire) - Avalon Rare Metals Inc. (
TSE:AVL) (NYSE MKT:AVL) ("Avalon" or the "Company") is pleased to announce that it has filed a preliminary base shelf prospectus (the "Prospectus") with the securities commissions in each of the provinces and territories of Canada, except Quebec, and a registration statement with the United States Securities and Exchange Commission which has not yet become effective. The securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective.
Under the Prospectus, the Company may issue common shares or warrants or any combination of such securities as units, in amounts, at prices, and on terms to be determined based on market conditions at the time of sale and set forth in an accompanying prospectus supplement, for an aggregate offering amount of up to US$500,000,000 during the 25 month period that the final short form base shelf prospectus remains effective.
Don Bubar, President and CEO, commented, "This now puts Avalon into a position to access new financing opportunities as work progresses on the Nechalacho Rare Earth Elements Project. The expiry of our existing base shelf prospectus in June 2013 gave us this opportunity to update our filings to be ready to rapidly execute on new transactions when opportunities arise."
This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state.
About Avalon Advanced Materials Inc
Avalon Advanced Materials Inc. (TSE:AVL) (OTCMKTS:AVLNF) (formerly Avalon Rare Metals) is a Canadian mineral development company specializing in niche market metals and minerals with growing demand in new technology. The Company has three advanced stage projects, all 100%-owned, providing investors with exposure to lithium, tin and indium, as well as rare earth elements, tantalum, niobium, and zirconium. Avalon is currently focusing on its Separation Rapids Lithium Project, Kenora, ON and its East Kemptville Tin-Indium Project, Yarmouth, NS. Social responsibility and environmental stewardship are corporate cornerstones.
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