Avalon Rare Metals plans $25 million at-the-market offering of stock

Cowen and Co. assists; proceeds for general corporate purposes

By Devika Patel

Knoxville, Tenn., Sept. 25 - Avalon Rare Metals Inc. has arranged a $25 million at-the-market sale of stock with Cowen and Co., LLC, according to a prospectus supplement filed Wednesday with the Securities and Exchange Commission.

Cowen will be paid a 3% commission.

Proceeds will be used for general corporate purposes, operations, capital requirements, discretionary capital programs and acquisitions.

Avalon is a tin, lithium, tantalum, niobium, cesium, indium, gallium, zirconium and calcium feldspar exploration and development company in Toronto.

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