Avalon Announces Closure of Public Offering

Avalon Rare Metals Inc. (TSX:AVL) announced the closure of its previously announced public offering of flow-through common shares and units.

As quoted in the press release,

The Company issued 6,410,254 Flow-Through Shares priced at $0.39 per Flow-Through Share and 4,431,970 Units priced at $0.34 per Unit. Each Unit consists of one common share (a “Unit Share”) and one-half of one non-transferrable common share purchase warrant (each whole warrant, a “Warrant”). Each Warrant entitles the holder to purchase one common share of the Company at a price of $0.425 per share, until November 27, 2016. Each Flow-Through Share will qualify as a “flow-through share” within the meaning of the Income Tax Act (Canada).

Click here for the full Avalon Rare Metals Inc. (TSX:AVL) press release