Avalon Advanced Materials completes 180-to-1 share consolidation

Avalon Advanced Materials Inc. (TSX: AVL) (OTCQB: AVLNF) completed a consolidation of its common shares on July 8, 2026, reducing its share count from 835,628,796 to approximately 4,642,382 shares on a 180-to-1 basis.

Shareholders approved the consolidation at a special meeting held June 29, 2026. The 180-to-1 ratio was selected by the company's board of directors from within the range authorized by shareholders at that meeting.

The consolidated shares are expected to begin trading on the Toronto Stock Exchange under the symbol "AVL" on or about July 13, 2026. The shares will continue to trade on the OTCQB Venture Market under "AVLNF," though the symbol may temporarily display as "AVLNFD" for approximately 20 trading days following the consolidation. The new CUSIP number for the shares is 05337L502 and the new ISIN is CA05337L5027.

The closing price of the common shares on the TSX on July 7, 2026, the last trading day before the consolidation took effect, was $0.045. Fractional shares will not be issued; shareholders entitled to fractional interests will receive a cash payment calculated using that closing price. Shareholders entitled to $5.00 or more will be mailed a check automatically, while those entitled to less than $5.00 must contact the exchange agent, TSX Trust Company, to claim their payment.

The company stated the consolidation is intended to provide a more conventional capital structure and support its evaluation of broader capital markets opportunities, including a potential future U.S. exchange listing.

Outstanding convertible securities will be proportionately adjusted to reflect the consolidation in accordance with their respective terms.

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