Avalon Rare Metals Limited (TSE:AVL) Provides Corporate Update
Toronto, Dec 1, 2010 AEST (ABN Newswire) - Avalon Rare Metals Limited (
TSE:AVL) (OTCQX:AVARF) is pleased to provide the following corporate update.
NYSE Amex Listing Application
The Company has applied for and received approval from NYSE Regulation on behalf of NYSE Amex LLC, to file an Original Listing Application to list its common shares on the NYSE Amex, an affiliate of the New York Stock Exchange. There are a number of conditions that the Company must satisfy for listing on the NYSE Amex and efforts are underway to satisfy these conditions as part of the Original Listing Application. Avalon expects that this process will take approximately four to six weeks.
Avalon President, Don Bubar stated that "Listing of the Company's shares in the United States will better accommodate the growing interest amongst American investors in Avalon's rare metals business. A full US Stock Exchange listing will facilitate greater participation by US investors and will likely result in increased liquidity for shareholders generally."
Audited Annual Financial Statements, MD&A and AIF
The Company announces that it has filed its Audited Annual Financial Statements, Management Discussion and Analysis ("MD&A") and Annual Information Form ("AIF") for the fiscal year ended August 31, 2010. These documents may be viewed at www.sedar.com. The audit was performed by McCarney, Greenwood LLP, Toronto, ON, who are a registered firm with the Public Company Accounting Oversight Board in the United States, which is a required condition of the NYSE Amex listing application.
Annual General Meeting
The Company will hold its Annual General Meeting of Shareholders at 4:30 p.m. on Thursday, January 27, 2011 at The Toronto Board of Trade, located at 1 First Canadian Place, Toronto, Ontario.
At the meeting, the Company's shareholders will be asked to approve a special resolution for continuance of the Company from being governed by the Business Corporations Act (British Columbia) ("BCA") to being governed by the Canada Business Corporations Act ("CBCA"). The Company's operations have been outside British Columbia for some time and being governed by the CBCA, rather than the BCA, will reduce the Company's legal costs and streamline its corporate functions.
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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