Avalon Advanced Materials Inc T.AVL

Avalon Enters Purchase and Sale Agreement

[Betteryear2]

Toronto, Ontario--(Newsfile Corp. - November 2, 2023) - Further to its news release dated June 15, 2023, and consistent with its strategic objective to build Ontario's first vertically integrated lithium supply chain serving the North American EV battery market, Avalon Advanced Materials Inc. (TSX: AVL) (OTCQB: AVLNF) ("Avalon" or the "Company") is pleased to announce that it has entered into a definitive Tripartite Purchase and Sale Agreement (the "Purchase and Sale Agreement") with SCR-Sibelco NV ("Sibelco") and Separation Rapids Ltd. ("SRL"), to provide for the transfer of the Company's Separation Rapids and Lilypad projects to SRL. SRL will be a joint venture entity co-owned by Sibelco (60%) and Avalon (40%). Sibelco will be the operator of SRL.

Avalon Enters Purchase and Sale Agreement to Transfer the Separation Rapids and Lilypad Projects into Joint Venture with Sibelco (newsfilecorp.com)

[Nick1969]

WHERE does that leave us  AVL  investors?  What does that mean for us ?

[SimonM]

Very good question Nick, you cannot read this detail in the press release from yesterday. I thought you can shed a little bit of light on that? ;-) I trust Scott as he was quoted "This partnership will unlock tremendous value for Avalon shareholders and accelerate our vision to build Ontario’s first vertically integrated lithium supply chain". Let's wait for the next update on that