How do you like the bargain that is AVL today? Institutions just paid $1.00 share. Financing is closed.

AVL Avalon Rare closes $44.69-million public offering

Canada StockWatch
9:38 AM Eastern Daylight Time Aug 03, 2011

Avalon Rare Metals Inc (TSX:AVL)
Shares Issued 94,869,715
Last Close 8/2/2011 $5.09
Wednesday August 03 2011 - News Release

Mr. Don Bubar reports

AVALON RARE METALS INC. ANNOUNCES CLOSING OF PUBLIC OFFERING OF COMMON SHARES AND PARTIAL EXERCISE OF OVER-ALLOTMENT

Avalon Rare Metals Inc. has closed its previously proposed public offering of 7,692,900 common shares, which includes 592,900 common shares issued pursuant to the partial exercise of the underwriters' option to purchase up to 1,065,000 additional common shares at the applicable offering price to cover overallotments. The common shares were offered at a price to the public of $6.15 (U.S.) per share with respect to shares initially offered in the United States or in other countries outside of Canada and $5.81 (Canadian) per share with respect to shares initially offered in Canada.

The gross proceeds of the offering, before expenses, were $47,311,335 (U.S.) ($44,695,749 (Canadian)). The company intends to use the proceeds of the offering for the completion of a bankable feasibility study on the Thor Lake rare metals project, working capital and general corporate purposes.

The common shares issued pursuant to the offering have been conditionally approved for listing by the Toronto Stock Exchange.

We seek Safe Harbor.