Avalon Advanced Materials Announces Special Meeting of Shareholders to Approve Share Consolidation as Part of U.S. Capital Markets Evaluation

Proposed share consolidation range intended to support potential U.S. exchange listing and broaden investor appeal Toronto, Ontario--(Newsfile Corp. - June 5, 2026) - Avalon Advanced Materials Inc. (TSX: AVL) (OTCQB: AVLNF) ("Avalon" or the "Company") today announced that it will hold a special meeting of shareholders on June 29, 2026 to seek shareholder approval for a proposed consolidation of the Company's issued and outstanding common shares (the "Common Shares") at a ratio to be determined by the Board of Directors within a range of one post-consolidation Common Share for every 130 pre-consolidation Common Shares and one post-consolidation Common Share for every 180 pre-consolidation Common Shares (the "Share Consolidation"). The Board believes that establishing a range for the Share Consolidation provides appropriate flexibility to account for the trading price of the Common Shares, market conditions, and applicable listing requirements prior to implementation.