Option conversion puts AVL in strong financial position to complete DFS

Highlights:

·      Option conversion well subscribed by shareholders with 204,599,484 options converted to shares by 264 holders during December 2018

·      $6,161,878 raised by the Company through option conversion

·      In addition, 62,750,000 options were underwritten, raising $1,255,000 before costs

·      Issue results in cash balance of $9.68M

·      Funding in place to accelerate development of AVL’s Gabanintha vanadium project.

·      Drilling and pilot metallurgical study underway as part of DFS