The Company has raised total gross proceeds of
Proceeds from the Offering are expected to be used for drilling and exploration on the Company's
Each FT Unit is priced at
Eligible finders will be paid cash fees totalling
All securities to be issued under the final closing of the Offering are subject to a statutory four month hold period expiring on
An insider of the Company subscribed directly and indirectly for 468,750 FT Units. The insider private placement is exempt from the valuation and minority shareholder approval requirements of Multilateral Instrument 61-101 ('MI 61-101') by virtue of the exemptions contained in sections 5.5(a) and 5.7(1) (a) of MI 61-101 in that the fair market value of the consideration for the securities of the Company issued to the insider did not exceed 25% of its market capitalization.
About Appia
Appia is a Canadian publicly-traded company in the rare earth element ('REE') and uranium sectors. The Company is currently focusing on delineating high-grade critical REE and uranium on the
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
Appia's technical team is directed by
Appia now has 73.8 million common shares outstanding, 97.8 million shares fully diluted.
Cautionary Note Regarding Forward-Looking Statements: This News Release contains forward-looking statements which are typically preceded by, followed by or including the words 'believes', 'expects', 'anticipates', 'estimates', 'intends', 'plans' or similar expressions. Forward-looking statements are not guarantees of future performance as they involve risks, uncertainties and assumptions. We do not intend and do not assume any obligation to update these forward- looking statements and shareholders are cautioned not to put undue reliance on such statements.
Contact:
Tel: 416-546-2707
Fax: 416-218-9772
Email: appia@appiaenergy.ca
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