Announced the signing of a binding term sheet to create a new joint venture with SCR-Sibelco NV, a global leader in materials solutions. Avalon has issued to Sibelco, on a non-brokered private placement basis, 109,692,764 common shares of Avalon for aggregate proceeds of C$10,000,000 and a secured convertible debenture in the principal amount of C$3,000,000. Avalon Advanced Materials Inc. shares T.AVL are trading up $0.01 at $0.13.