Appia Energy Announces Closing of $400,000 Non-Brokered Flow-Through Offering
Toronto, Ontario--(Newsfile Corp. - April 5, 2019) - Appia Energy Corp. (CSE: API) (OTCQB: APAAF) (FSE: A0I.F) (FSE: A0I.MU) (FSE: A0I.BE) (the "Company" or "Appia) is pleased to announce it will be closing a non-brokered private placement of 1,000,000 flow-through shares (the "FT Shares") for gross proceeds of $400,000. Each flow-through share is priced at $0.40.
Proceeds from the Offering are expected to be used for drilling and exploration on the Company's Alces Lake Property as well as other properties in Saskatchewan.
An eligible finder will be paid a cash fee of $24,000 and issued 60,000 FT broker warrants. Each FT broker warrant entitles the holder to acquire one common share at a price of $0.40 for twelve (12) months from Closing.
All securities to be issued are subject to a statutory four month hold period expiring on August 9, 2019.
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 ("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 64,045 hectares (158,259 acres) in Saskatchewan.
The Company also has a 100% interest in 13,008 hectares (32,143 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.
Appia's Management and Board have over 250 years of combined industry experience, and the Technical team is directed by James Sykes, who has had direct and indirect involvement with over 450 million lbs. U3O8 being discovered in five deposits within the Athabasca Basin.
Appia has 65.0 million common shares outstanding, 84.0 million shares fully diluted after giving effect to the financing.
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.
Neither the Canadian Securities Exchange nor its Market Regulator (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.
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