19 June 2023
TORONTO, Ontario - As part of its strategic transformation to become a vertically integrated lithium producer, Avalon Advanced Materials Inc. (TSX: AVL) (OTCQB: AVLNF) ("Avalon" or the "Company") is pleased to announce the successful acquisition of an industrial site in Thunder Bay, Ontario (965 Strathcona Avenue) which has existing road, rail, deep-water port, and utilities services for its planned midstream lithium-hydroxide (LiOH) processing facility.
The planned facility will ensure the long-term security of domestic lithium processing capacity required for North America's electric vehicle (EV) and battery supply chain-a core objective of both the Ontario and Canadian governments.
"In addition to accelerating onshore EV production capacity, our plan will help achieve a geo-strategic priority for Canada and other G7 nations to establish stable, secure access to refined raw material," noted Zeeshan Syed, Avalon President. "While there is more work to do with our government and community partnerships, we are confident we will help close the gap between increasing demand and domestic supply of this key resource and help fortify North American energy security."
Thunder Bay, population 125,000, is strategically located at a provincial midpoint between the resources of the north and downstream EV battery and automotive manufacturing hubs in the south.
"Thunder Bay has long served as a strategic port for Canadian industry, facilitating trade between Ontario's north and the rest of North America," Ken Boshcoff, Mayor of Thunder Bay, said. "We're thrilled to be partnering with Avalon to continue that tradition, while bringing jobs and new economic opportunities to the region."
With the finalization of this site purchase, Avalon's focus moves to build upon its relations with First Nations partners, the local community and government. Deepening this collaboration is key to ensuring members of the regional ecosystem all benefit from the project and prioritize environmental stewardship. First Nations communities are valued partners, and the Company looks forward to an ongoing dialogue of mutual respect and seeking innovative partnerships in the new green economy.