Avalon shareholders approve 1-for-180 share consolidation

Avalon Advanced Materials Inc. (TSX: AVL) (OTCQB: AVLNF) announced that shareholders approved a one-for-180 share consolidation at a special meeting held June 29, 2026, with 80.107% of votes cast in favor. The company's board of directors has authorized implementation of the consolidation.

A total of 311,602,021 common shares, representing approximately 37.209% of issued and outstanding shares, were represented at the meeting. Shares voted in favor numbered 249,614,857, while 61,987,164 were cast against.

Avalon currently has 835,628,796 common shares issued and outstanding. Upon completion of the consolidation, approximately 4.64 million common shares are expected to be outstanding. Outstanding options, warrants, and other equity-based securities will be proportionately adjusted.

The consolidation is intended to support a potential future listing on the Nasdaq Stock Market or another major U.S. securities exchange, according to the company's press release. The company stated that completion of the consolidation does not constitute a commitment to pursue a U.S. exchange listing, and no assurance was given that such a listing will be pursued or completed.

"The Share Consolidation does not change Avalon's underlying value, assets or strategic priorities," said Scott Monteith, President and Chief Executive Officer. "It is an enabling step intended to create a share structure and trading price more consistent with major U.S. exchanges and comparable critical-minerals companies."

The consolidation remains subject to final approval by the Toronto Stock Exchange and completion of customary processing requirements. Shareholders holding shares through brokerages are expected to have their accounts adjusted automatically. Registered shareholders holding physical certificates will receive instructions from TSX Trust Company regarding the exchange process. No fractional shares will be issued.

You May Also Be Interested In

• FDA Committee Recommends To Widen Access To Bpc-157 Peptide
• SLB (SLB) call put ratio 4.9 calls to 1 put with a focus on August 47.50 and 50 calls into quarter results
• Dime Community Bancshares (DCOM) Reports In-Line Q2 EPS