The Prospector News

Appia Announces Final Closing of Non-Brokered Private Placement Financing for a Total of $3,666,000

You have opened a direct link to the current edition PDF

Open PDF Close
Uncategorized

Share this news article

Appia Announces Final Closing of Non-Brokered Private Placement Financing for a Total of $3,666,000

 

 

 

 

 

Appia Rare Earths & Uranium Corp. (CSE:API) (OTCQX:APAAF) (Germany: “A0I:F”, “A0I.MU”, “A0I:BE”) is pleased to announce that it will be closing the final tranche of its non-brokered private placement offering, announced on November 21, 2022, with the issuance of 1,980,000 flow-through shares for gross proceeds of $990,000 and 409,300 working capital units for gross proceeds of $176,000. The Company has raised total gross proceeds of $3,666,000.

 

Each FT Share is priced at $0.50 and consists of one common share. Each WC Unit is priced at $0.43 and consists of one common share of the Company and one Common Share purchase warrant. Each Warrant issued on the final closing entitles the holder to acquire one Common Share at an exercise price equal to $0.65 per Warrant Share until December 8, 2023.

 

The net proceeds from the sale of WC Units will be used for working capital requirements and other general corporate purposes. The gross proceeds from the sale of FT Shares will be used for exploration expenses on the Company’s mining projects as permitted under the Income Tax Act (Canada) to qualify as Canadian Exploration Expenses.

 

All securities issued pursuant to the fiinal closing are subject to a hold period expiring on April 9, 2023.

 

In connection with the final closing of the Offering, eligible finders will be paid $63,060 in cash and issued 12,000 WC Broker Warrants. Each broker warrant issue in relation to the sale of WC Units entitles the holder to acquire one common share of the Corporation at a price of $0.65 until December 8, 2023.

 

The securities described herein have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”), or any state securities laws, and accordingly, may not be offered or sold within the United States except in compliance with the registration requirements of the U.S. Securities Act and applicable state securities requirements or pursuant to exemptions therefrom. This press release does not constitute an offer to sell or a solicitation to buy any securities in any jurisdiction.

 

About Appia Rare Earths & Uranium Corp.

 

Appia is a publicly traded Canadian company in the rare earth element and uranium sectors. The Company is currently focusing on delineating high-grade critical rare earth elements and gallium on the Alces Lake property, as well as exploring for high-grade uranium in the prolific Athabasca Basin on its Otherside, Loranger, North Wollaston, and Eastside properties. The Company holds the surface rights to exploration for 110,997 hectares (274,280 acres) in Saskatchewan. The Company also has a 100% interest in 12,545 hectares (31,000 acres), with rare earth element and uranium deposits over five mineralized zones in the Elliot Lake Camp, Ontario.

 

Appia will have 130.5 million common shares outstanding, 153.8 million shares fully diluted on the final closing of the Offering.

 

Posted December 8, 2022

Share this news article

MORE or "UNCATEGORIZED"


Canada Carbon Receives Full Assay Results on its Asbury Property, Including 12.25%Cg over 22.50 Metres

Canada Carbon Inc. (TSX-V:CCB) (FF:U7N1) is pleased to announce i... READ MORE

March 18, 2024

enCore Energy Encounters Highest Grade Drill Results at Alta Mesa Uranium Project; Provides Status on South Texas Production Operations

enCore Energy Corp. (NASDAQ: EU) (TSX-V: EU) a domestic uranium ... READ MORE

March 18, 2024

Canada Nickel Makes New Discovery at Newmarket Property, Achieves Best Drill Results at Reid to Date and Announces Grant of Options and RSUs

Highlights First two holes at Newmarket successfully intersect ta... READ MORE

March 18, 2024

Imperial Reports 2023 Financial Results

Imperial Metals Corporation (TSX:III) reports financial results f... READ MORE

March 15, 2024

Outcrop Silver Announces Closing $3.45 Million Public Offering, Including the Full Exercise of the Over-Allotment Option

Outcrop Silver & Gold Corporation (TSX-V: OCG) (OTCQX: OCGSF)... READ MORE

March 14, 2024

Copyright 2024 The Prospector News