Appia Energy closes $1-million private placement

Jan 24, 2017

APPIA CLOSES PRIVATE PLACEMENT

Appia Energy Corp., further to its news release of Jan. 3, 2017, has closed its non-brokered private placement with the sale of five million working capital (WC) units at 20 cents per WC unit for proceeds of $1-million. The company intends to use the proceeds from the offering to drill the Loranger property, for exploration of the Otherside property to bring it to the drilling stage and for working capital.

Each WC unit is priced at 20 cents and consists of one common share and one common share purchase warrant. Each WC warrant entitles the holder to purchase one common share at a price of 30 cents per WC warrant share exercisable until the earlier of Jan. 20, 2022, and in the event that the closing price of the common shares on the Canadian Securities Exchange is at least 60 cents for 20 consecutive trading days and the 20th trading day is at least four months from the closing date, the date which is 30 days from the final trading day.

The company paid cash finders’ fees of an aggregate of $57,500 to eligible finders.

All securities issued pursuant to the above-referenced offering are subject to a hold period expiring on May 21, 2017.

About Appia

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 63,654 hectares (157,070 acres) in Saskatchewan.

http://www.appiaenergy.ca/news/