Appia Energy Corp. (CNSX:API) announced a private placement of 5,000,000 working capital units at a price of CAD 0.20 per unit for gross proceeds of CAD 1,000,000 on January 9, 2017. Each working capital unit consists of one common share and one working capital warrant. Each working capital warrant entitles the holder to purchase one additional common share at a price of CAD 0.30 per share exercisable until the earlier of 60 months or in the event, that the closing price of the common shares on the Canadian Securities Exchange is at least CAD 0.60 for 20 consecutive trading days, and the 20th trading day is at least four months from the closing date, the date which is thirty days from the final trading day. The securities issued are subject to a hold period of four months from the date of closing. The company may pay finder's fees of up to 10% of the value of proceeds of the sale of working capital units in cash.