12:30 PM EDT, 10/24/2025 (MT Newswires) -- Avalon Advanced Materials ( AVLNF ) shares fell on Friday after it closed a brokered private placement under the listed issuer financing exemption, raising $18.7 million.

The company issued 133.2-million non-flow-through units (Non-FT units) and 30.8-million flow-through units (FT units) as part of the offering. Each Non-FT unit is made up of a share and a warrant and each FT unit contains a tax-advantaged share a warrant, each of which will qualify as a "flow-through share".

Each Warrant will entitle the holder to buy a share for $0.17 for three-years from the date of closing.

The company said the offering supports its strategy to advance its rare earth and lithium assets and "play a meaningful role in strengthening the foundation of a resilient North American critical minerals supply chain."

Shares of the company were last seen down $0.01 to $0.075 on the Toronto Stock Exchange.

Price: 0.08, Change: -0.01, Percent Change: -11.76