Avalon Announces Voting Results of Annual and Special Meeting Including Approval of Name Change
March 09 2016 - 7:46PM
Avalon Advanced Materials Inc. (TSX:AVL)
(OTCQX:AVLNF) (“Avalon” or the “Company”) is pleased to announce
that at the Annual and Special Meeting of shareholders held in
Toronto, Ontario on February 24, 2016 (the “Meeting”), shareholders
approved the motion to change the Company’s name to Avalon Advanced
Materials Inc.
As noted in the Information Circular, Avalon's
management and Board of Directors felt that the name “Avalon Rare
Metals Inc.” was too closely associated with rare earths and no
longer adequately reflected the Company’s diversified specialty
metals and minerals asset base. Don Bubar, President and CEO, noted
“With the Company’s increasing focus on lithium and tin-indium, the
new name will help investors discover how Avalon’s other assets can
also contribute to increased shareholder value and recognize the
critical importance of these commodities in clean technology.”
Also during the Meeting, six of the seven
director nominees listed in the Company’s information circular
dated January 12, 2016 were elected as directors of the
Company.
One of management’s proposed directors, Phil
Fontaine, decided for personal reasons not to stand for
re-election, even though his name had been included in the
information circular.
The detailed results of the vote are as
follows:
|
|
|
|
|
Director |
|
|
Number of Votes Cast |
Percentage of Votes Cast |
Donald Bubar |
|
In
Favour:Withheld: |
23,874,135938,627 |
96.22%3.78% |
|
|
|
|
|
Alan Ferry |
|
In
Favour:Withheld: |
23,932,074880,688 |
96.45%3.55% |
|
|
|
|
|
Brian MacEachen |
|
In
Favour:Withheld: |
23,909,524903,238 |
96.36%3.64% |
|
|
|
|
|
Peter McCarter |
|
In
Favour:Withheld: |
23,947,916864,846 |
96.51%3.49% |
|
|
|
|
|
Jane Pagel |
|
In
Favour:Withheld: |
23,900,478912,284 |
96.32%3.68% |
|
|
|
|
|
Kenneth G. Thomas |
|
In
Favour:Withheld: |
23,897,505915,257 |
96.31%3.69% |
|
|
|
|
|
At the Meeting, Don Bubar welcomed Jane Pagel to
the Board as “an experienced executive from the environmental field
with a broad background in both industry and government including
leadership roles in energy, clean tech and sustainability
organizations.” He also expressed gratitude to Phil Fontaine for
his six years of service on the Company’s Board of Directors as an
inspiration and a role model for Aboriginal participation in the
Canadian mineral industry.
In addition, at the Meeting shareholders
appointed Deloitte LLP as auditors of the Company, and approved a
resolution adopting By-law No.2 of the Company pertaining to
advance notice for the nomination of Directors of the Company.
About Avalon Advanced Materials Inc. Avalon
Advanced Materials Inc. is a Canadian mineral development
company specializing in niche market metals and minerals with
growing demand in new technology. The Company has three advanced
stage projects, all 100%-owned, providing investors with exposure
to lithium, tin and indium, as well as rare earth elements,
tantalum, niobium, and zirconium. Avalon is currently focusing on
its Separation Rapids Lithium Project, Kenora, ON and its East
Kemptville Tin-Indium Project, Yarmouth, NS. Social responsibility
and environmental stewardship are corporate cornerstones.
For questions and feedback, please e-mail the
Company at ir@AvalonAM.com, or phone Don Bubar, President & CEO
at 416-364-4938.
This news release contains “forward-looking
statements” within the meaning of the United States Private
Securities Litigation Reform Act of 1995 and applicable Canadian
securities legislation. Forward-looking statements include, but are
not limited to, statements related to the Company’s increasing
focus on lithium and tin-indium, and that the new name will help
investors discover how Avalon’s other assets can also contribute to
increased shareholder value and recognize the critical importance
of these commodities in clean technology. Generally, these
forward-looking statements can be identified by the use of
forward-looking terminology such as “potential”, “scheduled”,
“anticipates”, “continues”, “expects” or “does not expect”, “is
expected”, “scheduled”, “targeted”, “planned”, or “believes”, or
variations of such words and phrases or state that certain actions,
events or results “may”, “could”, “would”, “might” or “will be” or
“will not be” taken, reached or result, “will occur” or “be
achieved”. Forward-looking statements are subject to known and
unknown risks, uncertainties and other factors that may cause the
actual results, level of activity, performance or achievements of
Avalon to be materially different from those expressed or implied
by such forward-looking statements. Forward-looking statements are
based on assumptions management believes to be reasonable at the
time such statements are made. Although Avalon has attempted to
identify important factors that could cause actual results to
differ materially from those contained in forward-looking
statements, there may be other factors that cause results not to be
as anticipated, estimated or intended. Factors that may cause
actual results to differ materially from expected results described
in forward-looking statements include, but are not limited to
market conditions, and the possibility of cost overruns or
unanticipated costs and expenses as well as those risk factors set
out in the Company’s current Annual Information Form, Management’s
Discussion and Analysis and other disclosure documents available
under the Company’s profile at www.SEDAR.com. There can be no
assurance that such statements will prove to be accurate, as actual
results and future events could differ materially from those
anticipated in such statements. Such forward-looking statements
have been provided for the purpose of assisting investors in
understanding the Company’s plans and objectives and may not be
appropriate for other purposes. Accordingly, readers should not
place undue reliance on forward-looking statements. Avalon does not
undertake to update any forward-looking statements that are
contained herein, except in accordance with applicable securities
laws.
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