Appia Extends Memorandum of Understanding for the Elliot Lake Uranium Project, Ontario
Appia Extends Memorandum of Understanding
for the Elliot Lake Uranium Project, Ontario
Toronto, Ontario--(Newsfile Corp. - July 11, 2024) - Appia Rare Earths & Uranium Corp.
(CSE: API)
(OTCQX: APAAF) (FWB: A0I0) (MUN: A0I0) (BER: A0I0)
(the "
Company
" or
"Appia"
) stated today
that it has agreed to extend the non-binding memorandum of understanding ("
MOU
") with 15997356
Canada Inc. (the "
Purchaser
") to option up to a 100% working interest in the Company's Elliot Lake
Uranium Project ("
Elliot Lake
") located in Elliot Lake Ontario (the "
Transaction
") first announced on
May 15
th
, 2024 (
See Press Release Here
).
The Transaction was conditional upon the Purchaser providing a financing commitment to Appia on or
before July 9, 2024, failing which Appia could terminate the Transaction. The deadline for the financing
commitment has been extended to August 9, 2024. All other terms of the original MOU apply except that
Appia is no longer restricted from soliciting offers from new interested parties, and/or re-engaging with
previously interested parties to explore other potential deal structures. Appia can terminate the
Transaction at any time on written notice to the Purchaser.
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)
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/216181