Appia Energy Corp. (CSE:API) (OTCQB:APAAF) (Germany: “A0I.F”, “A0I.MU”, “A0I.BE”) announces that during the fourth quarter of 2020 Appia received $1,711,000 from the exercise of 5,716,730 common share warrants. The use of the proceeds is not restricted.
As of December 31, 2020, Appia’s cash position was approximately $5.5 million, of which $2.8million is from Flow-Through financing and must be spent on exploration and development in Canada.
Appia is very excited and looks forward to exploration in the New Year and is now planning an extensive drilling and exploration program at its Alces Lake high-grade critical rare earth project as well at its uranium properties.
The company thanks all its shareholders for their support and wish them HAPPY NEW YEAR.
Appia is a Canadian publicly-listed company in the uranium and rare earth element sectors. The Company is currently focusing on delineating high-grade critical rare earth elements (“REE”) 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 65,601 hectares (162,104 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), with rare earth element and uranium deposits over five mineralized zones in the Elliot Lake Camp, Ontario. The Camp 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 92.1 million common shares outstanding, 108.2 million shares fully diluted.
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