TORONTO, ONTARIO--(Marketwired - April 4, 2017) - Appia Energy Corp. (the "Company" or "Appia") (CSE:API)(CSE:API.CN)(OTC:APAAF)(FRANKFURT:A0I.F)(MUNICH:A0I.MU)(BERLIN:A0I.BE) is pleased to announce that further to its News Release of March 23, 2017, the Company intends to close the final tranche of its non-brokered private placement (the "Offering") with the sale of 392,858 working capital units ("WC Units") at $0.35 per WC Unit for proceeds of $137,500 on April 5, 2017. The Company intends to use the proceeds from the $504,725 raised from the first closing of the Offering plus the additional funds raised (an aggregate of $642,225) for drilling the Loranger Property and for exploration of the Otherside Property to bring it to the drilling stage and for working capital.
Each WC Unit is priced at $0.35 and consists of one (1) 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 $0.50 per WC Warrant Share exercisable until April 5, 2019.
All securities issued pursuant to the above referenced Offering will be subject to a hold period expiring on August 6, 2017.
Further to the Company's News Releases of March 6 and 23, 2017, a further four drill holes (for a total of six drill holes) have been completed on the Loranger Property and the drill core samples are being sent to the Saskatchewan Research Council's Geolab for geochemical analysis. Results from the drill program will be announced when they are available.
Appia is a Canadian publicly-traded company in the uranium and rare earth sectors. The Company is currently focused on discovering high-grade uranium deposits in the prolific Athabasca Basin on its Loranger and Otherside properties, as well as high-grade REO and uranium surface showings on its Alces Lake joint venture. The company currently holds the surface rights to exploration for about 63,607 hectares (157,177 acres) in Saskatchewan.
The Company also has NI 43-101 compliant resources of 8.0 M lbs U3O8 and 47.7 M lbs TREE Indicated, and 47.7 M lbs U3O8 and 133.2 M lbs TREE Inferred in the historic mining camp of Elliot Lake in Ontario (reported in the Company's news release dated August 1, 2013). The resources are largely unconstrained along strike and down dip.
Appia will have 52.3 million common shares outstanding and 65.3 million common shares fully diluted following the closing of this Offering.
The technical content concerning the Property in this news release was reviewed and approved by Thomas Skimming, P.Eng, a Director of Appia, and a Qualified Person as defined by National Instrument 43-101.
Cautionary Note Regarding Forward-Looking Statements: This News Release contains forward-looking statements that involve risks and uncertainties, which may cause actual results to differ materially from the statements made. When used in this document, the words "may", "would", "could", "will", "intend", "plan", "anticipate", "believe", "estimate", "expect" and similar expressions are intended to identify forward-looking statements. Such statements reflect our current views with respect to future events and are subject to such risks and uncertainties. Many factors could cause our actual results to differ materially from the statements made, including those factors discussed in filings made by us with the Canadian securities regulatory authorities. Should one or more of these risks and uncertainties, such actual results of current exploration programs, the general risks associated with the mining industry, the price of gold and other metals, currency and interest rate fluctuations, increased competition and general economic and market factors, occur or should assumptions underlying the forward looking statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, or expected. We do not intend and do not assume any obligation to update these forward-looking statements, except as required by law. Shareholders are cautioned not to put undue reliance on such forward-looking statements.