TORONTO, Nov. 07, 2016 (GLOBE NEWSWIRE) -- Avalon Advanced Materials Inc. ( TSX:AVL) ( OTCQX:AVLNF) ("Avalon" or the "Company") is pleased to announce that it has completed a non-brokered private placement today consisting of 4,545,454 flow-through shares at a price of $0.22 per share for gross proceeds of $1,000,000. In conjunction with this private placement Avalon paid finder's fees of $60,000 and issued 272,727 non-transferrable finder's warrants, with each finder's warrant being exercisable to acquire one common share of the Company at a price of $0.25 for a period of 24 months from today. Pursuant to Canadian securities laws, the securities issuable under this private placement are subject to a hold period which expires on March 8, 2017. The proceeds from this offering will be used primarily to advance exploration work, including drilling, on the Company's Separation Rapids Lithium Project. This press release is not an offer of securities for sale in the United States. The securities have not been and will not be registered under the US Securities Act of 1933, as amended (the "US Securities Act"), and may not be offered or sold in the United States or to US persons (as defined in Regulation S under the US Securities Act) absent registration or an applicable exemption from registration. About Avalon Advanced Materials Inc. Avalon Advanced Materials Inc. (formerly Avalon Rare Metals 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.