By Devika Patel
Knoxville, Tenn., Dec. 1 - Avalon Ventures Ltd. announced it plans a C$1.5 million non-brokered private placement of shares. The deal priced Nov. 27.
Avalon will sell 3 million flow-through shares at C$0.50 per share.
Proceeds will be used to fund additional diamond drilling and other eligible exploration work on the Lake Zone Rare Earth Elements deposit.
Avalon Ventures is a Toronto-based junior mineral exploration and development company, with a primary focus on rare metals and minerals with high technology applications or offering environmental benefits.
| Issuer: | Avalon Ventures Ltd.
|
| Issue: | Flow-through shares
|
| Amount: | C$1.5 million
|
| Greenshoe: | C$2.225 million in units
|
| Shares: | 3 million
|
| Price: | C$0.50
|
| Warrants: | No
|
| Agent: | Non-brokered
|
| Pricing date: | Nov. 27
|
| Stock symbol: | Toronto: AVL
|
| Stock price: | C$0.50 at close Nov. 27
|
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