Appia Announces Closing of $5.75 million Bought Deal Financing Including Full Exercise of the Over-Allotment Option
APPIA ANNOUNCES CLOSING OF $5.75 MILLION BOUGHT DEAL FINANCING,
INCLUDING FULL EXERCISE OF THE OVER-ALLOTMENT OPTION
NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED
STATES.
Toronto, Ontario – May 19, 2021 – Appia Energy Corp. (CSE: API) (OTCQB: APAAF) (FSE: A0I.F)
(FSE: A0I.MU) (FSE: A0I.BE) (the "Company" or "Appia") , is pleased to announce the closing of its
previously announced “bought deal” private placement offering for aggregate gross proceeds of
approximately $5,750,000 (the “ Offering”), including the full exercise of the over-allotment option. In
connection with the Offering, the Company issued: (i) 5,782,333 units of the Company (each, a “ Unit”) at a
price of $0.60 per Unit, and (ii) 3,258,000 flow-through units of the Company (each, a “ FT Unit”) at a price of
$0.70 per FT Unit. The Offering was led by Research Capital Corporation as sole underwriter and sole
bookrunner.
Each Unit consists of one common share of the Company (“ Common Share ”) and one Common Share
purchase warrant (a “ Warrant”). Each FT Unit consists of one Common Share that qualifies as a “flow-
through share” within the meaning of subsection 66(15) of the Income Tax Act (Canada) (each, a " FT
Common Share") and one Warrant. Each Warrant entitles the holder thereof to acquire one Common Share
(each, a “Warrant Share”) at an exercise price equal to $0.75 per Warrant Share for a period of 24 months
following the closing of the Offering. The securities issued are subject to a statutory hold period expiring on
September 20, 2021.
The net proceeds from the sale of Units will be used for working capital requirements and other general
corporate purposes. The gross proceeds from the sale of FT Units (other than the minimal amount allocable
to the Warrants) 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.
The Company is fully funded and committed to completing the largest exploration and diamond drilling
program to date starting late May. In excess of 5,000 metres is expected to be drilled at Alces Lake this
summer.
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
Appia is a Canadian public-listed company in the rare earth element and uranium 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 U 3O8 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 has 106.6 million common shares outstanding, 127.9 million shares fully diluted.
For more information, visit Appia's website at www.appiaenergy.ca
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.
For further information, please contact:
Tom Drivas, CEO and Director: (cell) 416-876-3957, (fax) 416-218-9772 or (email) [email protected]
Frederick Kozak, President: (cellular) 403-606-3165 or (email) [email protected]
Frank van de Water , Chief Financial Officer and Director, (tel) 416-546-2707, (fax) 416-218-9772 or
(email) [email protected]
Forward Looking Statements
This news release contains "forward-looking information" which may include, but is not limited to, statements
with respect to completion of the Offering and use of proceeds of the Offering. Forward-looking statements
are based on the opinions and estimates of management as of the date such statements are made and are
based on various 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.