Appia Announces Closing of Non-Brokered Flow-Through Private Placement
Appia Announces Closing of Non-Brokered
Flow-Through Private Placement
Toronto, Ontario--(Newsfile Corp. - December 27, 2023) -
Appia Rare Earths & Uranium
Corp. (CSE: API) (OTCQX: APAAF) (FSE: A0I0) (MUN: A0I0) (BER: A0I0) (the "Company" or
"Appia")
is pleased to announce the closing of its previously announced non-brokered private
placement for gross proceeds of $1,462,100 (the "
Offering
"). In connection with the Offering, the
Company issued 4,873,667 flow-through shares (the "
FT Shares
") at $0.30 per FT Share. The FT
Shares issued under the Offering have a hold period expiring on April 28, 2024.
The gross proceeds from the sale of FT Shares will be used for Canadian Exploration Expenses (within
the meaning of the
Income Tax Act
(Canada) (the "Tax Act")) which qualify as a "flow-through critical
mineral mining expenditure" for purposes of the Tax Act related to the exploration program of the
Company to be conducted on the Company's properties located in Saskatchewan. The Company will
renounce such Canadian Exploration Expenses with an effective date of no later than December 31,
2023. The Canadian Exploration Expenses to be renounced by the Company will qualify for the critical
mineral exploration tax credit under the Tax Act.
Cash finder's fees of $87,726 were paid to eligible finders pursuant to this Offering.
The securities described herein were not 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)
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 113,837.15 hectares (281,297.72 acres) in Saskatchewan. The Company also has a
100% interest in 13,008 hectares (32,143acres), with rare earth elements and uranium deposits over
five mineralized zones in the Elliot Lake Camp, Ontario. Lastly, the Company holds the right to acquire
up to a 70% interest in the PCH Project which is 17,551.07 ha. in size and located within the Goiás State
of Brazil. (See June 9
th
, 2023 Press Release - Click
HERE
)
Appia has 136.3 million common shares outstanding, 144.2 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 a guarantee 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.
For more information, visit
www.appiareu.com
.
As part of our ongoing effort to keep investors, interested parties and stakeholders updated, we have
several communication portals. If you have any questions online (
,
,
) please
feel free to send direct messages.
To book a one-on-one 30-minute Zoom video call, please
click here
.
Contact:
Tom Drivas, CEO and Director
(c) (416) 876-3957
(f) (416) 218-9772
(e)
Stephen Burega, President
(c) (647) 515-3734
(e)
NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN
THE UNITED STATES
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/192320