Appia Announces Non-Brokered Working Capital Private Placement
Appia Announces Non-Brokered Working
Capital Private Placement
Toronto, Ontario--(Newsfile Corp. - July 12, 2024) -
Appia Rare Earths & Uranium Corp. (CSE: API)
(OTCQX: APAAF) (FSE: A0I0) (MUN: A0I0) (BER: A0I0) (the "Company" or "Appia")
is pleased to
announce a non-brokered private placement (the "
Offering
") of up to 10,000,000 working capital units
(the "
WC Units
") of the Company at a price of $0.10 per WC Unit for up to $1,000,000 to provide the
Company with working capital and funding for exploration of the Corporation's PCH Project in Brazil.
Each WC Unit consists of one (1) common share of the Company priced at $0.10 per common share
and one (1) common share purchase warrant (a "
WC Warrant
"). Each WC Warrant entitles the holder to
purchase one (1) common share (a "
WC Warrant Share")
at a price of $0.20 per WC Warrant Share
until the earlier of (i) twelve (12) months from Closing; and (ii) in the event that the closing price of the
Common Shares on the Canadian Securities Exchange is at least $0.30 for ten (10) consecutive trading
days, and the 10th trading day (the "
Final Trading Day")
is at least four (4) months from the Closing, the
date which is thirty (30) days from the Final Trading Day (the "
Trigger Date"
).
Eligible Finders may receive up to 6% of the value of proceeds on the sale of the WC Units in cash and
up to 6% of the number of WC Units sold in the form of broker warrants. Each broker warrant issued in
relation to the sale of WC Units ("
Broker Warrants"
), entitles the holder to acquire one (1) common
share of the Corporation
a price of $0.10 for twelve (12) months from the Closing.
Insiders of the Company may subscribe for up to 25% of the Offering. The insider private placements are
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 which will be issued to
the insiders will not exceed 25% of its market capitalization.
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 Rare Earths & Uranium Corp. (Appia)
Appia is a publicly traded Canadian company in the rare earth element and uranium sectors. The
Company holds the right to acquire up to a 70% interest in the PCH Ionic Adsorption Clay Project (See
June 9th, 2023 Press Release - Click
HERE
) which is 40,963.18 ha. in size and located within the Goiás
State of Brazil. (See January 11th, 2024 Press Release -
Click HERE
) The Company is also focusing on
delineating high-grade critical rare earth elements and gallium on the Alces Lake property, and 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 94,982.39 hectares
(234,706.59 acres) in Saskatchewan. The Company also has a 100% interest in 13,008 hectares
(32,143 acres), with rare earth elements and uranium deposits over five mineralized zones in the Elliot
Lake Camp, Ontario.
Appia has 136.8 million common shares outstanding, 145.5 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 (
X
,
,
) 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
(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/216283