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APPIA ANNOUNCES NON-BROKERED OFFERING

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APPIA ANNOUNCES NON-BROKERED OFFERING

 

 

 

 

 

Appia Energy Corp. (CSE: API) (OTCQB: APAAF) (Germany: A0I.F, A0I.MU, A0I.BE) is pleased to announce the offering of a non-brokered private placement of up to 7,500,000 flow-through units for gross proceeds of up to $1,200,000 or up to 7,500,000 working capital units for gross proceeds of up to $1,125,000 or a combination thereof. Depending upon investor interest, the Company may place more FT Units or more WC Units, but in any event does not intend to issue more than an aggregate of 7.5 million units.

 

Proceeds from the Offering are expected to be used for exploration of the Company’s uranium and rare earth element properties in Saskatchewan and for working capital.

 

Each FT Unit is priced at $0.16 and consists of one (1) common share and one-half of a share purchase warrant. Each full warrant entitles the holder to purchase one (1) common share at a price of $0.25 per Warrant Share until twelve months from closing.

 

Each WC Unit is priced at $0.15 and consists of one common share and one common share purchase warrant.  Each WC Warrant entitles the holder to purchase one common share at a price of $0.25 per WC Warrant Share until 12 months from closing.

 

Eligible Finders may receive up to 7% of the value of proceeds on the sale of the WC Units and FT Units in cash and up to 5% of the number of FT Units or WC Units sold in the form of broker warrants. Each broker warrant issued in relation to the sale of FT Units entitles the holder to acquire one common share of the Corporation at a price of $0.16 for twelve months from the closing of the FT Units offering and each broker warrant issued in relation to the sale of WC Units entitles the holder to acquire one (common share of the Corporation at a price of $0.15 for twelve months from the closing of the WC Units offering.

 

All securities to be issued under the Offering will be subject to a statutory four month hold period.

 

About Appia

 

Appia is a Canadian, publicly-traded company in the uranium and rare earth element sectors.  The Company is currently focusing on delineating high-grade critical rare earth elements and uranium on the Alces Lake property, as well as prospecting for high-grade uranium in the prolific Athabasca Basin on its Loranger, North Wollaston, and Eastside properties.  The Company holds the surface rights to exploration for 57,048 hectares (140,968 acres) in Saskatchewan.

 

The Company also has a 100% interest (subject to a 1% Uranium Production Payment Royalty and a 1% Net Smelter Return Royalty on any precious or base metals payable, provided that the price of uranium is greater than US$130 per pound) in 12,545 hectares (31,000 acres), including rare earth element and uranium deposits over five mineralized zones in the Elliot Lake Camp, Ontario, which historically produced over 300 million pounds of U3O8 and is the only Canadian camp that has had significant rare earth element (yttrium) production.  The deposits are largely unconstrained along strike and down dip.

 

Appia’s technical team is directed by James Sykes, who has had direct and indirect involvement with over 550 million lbs. U3O8 being discovered in five deposits in the Athabasca Basin.

 

Appia has 65.3 million common shares outstanding, 85.1 million shares fully diluted.

 

Posted December 2, 2019

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