TORONTO, ONTARIO--(Marketwired - Jan. 9, 2017) - Appia Energy Corp. (the "Company" or "Appia") (CSE:API) is pleased to announce that the Company is offering up to 5,000,000 working capital units (the "WC Units") of the Company at a price of $0.20 per WC Unit for up to $1,000,000 (the "Offering").
The funds will be used to explore the recently acquired Otherside and Loranger properties (see Press Release dated April 26, 2016) to the drilling stage and for working capital.
Each WC Unit is priced at $0.20 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 $0.30 per WC Warrant Share exercisable until the earlier of: (i) five (5) years; and (ii) in the event that the closing price of the Common Shares on the Canadian Securities Exchange is at least $0.60 for twenty (20) consecutive trading days, and the 20th trading day (the "Final Trading Day") is at least four (4) months from the Closing Date, the date which is thirty (30) days from the Final Trading Day (the "Trigger Date").
Eligible Finders may receive up to 10% of the value of proceeds of the sale of WC Units in cash.
All securities issued pursuant to the above referenced private placements are subject to a statutory four month hold period.
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 recently acquired properties, Loranger and Otherside, 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 63,564 hectares (157,070 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 Elliot Lake, ON, historic mining camp. The resources are largely unconstrained along strike and down dip.
Appia's technical team is directed by James Sykes, who has had direct and indirect involvement with over 350 M lbs. U3O8 being discovered in five deposits in the Athabasca Basin.
Appia currently has 45.1 million common shares outstanding, 49.1 million shares fully diluted.
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.