Avalon Cancels Special Meeting of Shareholders

Rhea-AI Summary

Avalon Advanced Materials (OTCQB: AVLNF) announced the cancellation of its special meeting of shareholders scheduled for October 7, 2025 because quorum was not met by the extended proxy deadline of October 6, 2025 at 4:00 p.m. ET. The meeting was to consider adoption of a shareholder rights plan. The Board says the rights plan will be considered at a later date.

Proxies submitted for the cancelled meeting are no longer effective and will not carry over to any future meeting considering the rights plan. Shareholders may contact Avalon Investor Relations at ir@avalonam.com or 416-364-4938 for more information.

Positive

• Board will reconsider adoption of a shareholder rights plan later
• Company commits to engaging shareholders and ensuring broad participation

Negative

• Special meeting canceled due to quorum not met by Oct 6, 2025
• Proxies submitted are no longer effective for any future meeting

Toronto, Ontario--(Newsfile Corp. - October 6, 2025) - Avalon Advanced Materials Inc. (TSX: AVL) (OTCQB: AVLNF) ("Avalon" or the "Company") today announced that its special meeting of shareholders (the "Special Meeting") scheduled for October 7, 2025 has been canceled. The decision follows the Company's determination that quorum requirements (i.e., not less than 20% of the issued and outstanding shares of the Company carrying voting rights) for the Special Meeting had not been met by the extended proxy voting deadline of October 6, 2025, at 4:00 p.m. Eastern Time.

The Board of Directors expects that the matter originally scheduled for shareholder consideration at the Special Meeting - adoption of a shareholder rights plan - will be considered for approval at a later date.

Proxies submitted for the Special Meeting will not carry over to any future meeting of the Company's shareholders at which a shareholder rights plan is considered and are no longer effective.

Avalon remains committed to engaging its shareholders and ensuring broad participation on matters of importance to the Company and its future. Avalon shareholders may contact Avalon Investor Relations at ir@avalonam.com or 416-364-4938 for further information about the cancelled Special Meeting.

About Avalon Advanced Materials Inc.

Avalon Advanced Materials Inc. is a Canadian critical minerals company advancing the supply of materials essential for Canada's future. The Company is focused on developing strategic assets that support secure, domestic supply chains and long-term economic growth. Avalon is focused on vertically integrating the Ontario lithium supply chain through the development of Lake Superior Lithium Inc., Ontario's first midstream lithium hydroxide processing facility, located in Thunder Bay. This facility will serve as a vital link between northern Ontario's lithium resources and the growing EV battery manufacturing base in southern Ontario and North America. Through a joint venture with SCR-Sibelco NV, Avalon is advancing the Separation Rapids Lithium Project near Kenora, Ontario, as well as continuing exploration at its Snowbank lithium and Lilypad lithium-cesium deposits. The Company is also advancing the Nechalacho Rare Earths and Zirconium Project in the Northwest Territories. This deposit contains all light and heavy rare earth elements, as well as yttrium, zirconium, tantalum, and niobium-critical minerals used in advanced technologies across the communications, defense, clean tech, and energy sectors.

For further information regarding Avalon Advanced Materials Inc., please visit www.avalonadvancedmaterials.com, email ir@avalonam.com, or call 416-364-4938.

Cautionary Statement Regarding Forward-Looking Information

This news release contains "forward-looking information" within the meaning of applicable Canadian securities legislation. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "add" or "additional", "advancing", "anticipates" or "does not anticipate", "appears", "believes", "can be", "conceptual", "confidence", "continue", "convert" or "conversion", "deliver", "demonstrating", "estimates", "encouraging", "expand" or "expanding" or "expansion", "expect" or "expectations", "forecasts", "forward", "goal", "improves", "increase", "intends", "justification", "plans", "potential" or "potentially", "promise", "prospective", "prioritize", "reflects", "robust", "scheduled", "suggesting", "support", "top-tier", "updating", "upside", "will be" or "will consider", "work towards", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might", or "will be taken", "occur", or "be achieved".

Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking information, including those risk factors discussed or referred to in the annual information form of the Company dated November 28, 2024 (the "AIF") under the heading "Description of the Business - Risk Factors". Forward-looking information is based on the reasonable assumptions, estimates, analysis and opinions of management made in light of its experience and perception of trends, current conditions and expected developments, as well as other factors that management believes to be relevant and reasonable in the circumstances at the date that such statements are made, but which may prove to be incorrect. Although the Company believes that the assumptions and expectations reflected in such forward-looking information are reasonable, undue reliance should not be placed on forward-looking information because the Company can give no assurance that such expectations will prove to be correct. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward-looking information. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/269349

FAQ

Why was Avalon's (AVLNF) special meeting scheduled for October 7, 2025 canceled?

The meeting was canceled because quorum was not met by the extended proxy deadline of October 6, 2025 at 4:00 p.m. ET.

Will proxies for the October 7, 2025 Avalon (AVLNF) meeting carry over to a future meeting?

No. Proxies submitted for the cancelled meeting are no longer effective and will not carry over to any future meeting.

What matter was Avalon (AVLNF) going to consider at the canceled October 7, 2025 meeting?

Shareholders were to consider adoption of a shareholder rights plan, which the Board expects to revisit at a later date.

How can Avalon (AVLNF) shareholders get more information about the canceled meeting?

Shareholders may contact Avalon Investor Relations at ir@avalonam.com or 416-364-4938.

Will Avalon (AVLNF) schedule a new meeting to vote on the shareholder rights plan?

The Board expects the matter to be considered for approval at a later date, but no new meeting date was announced.