The FT Units and Charity FT Units shall collectively be referred to as the 'Offered Securities'.
Each FT Unit and Charity FT Unit will consist of one common share of the Company to be issued as a 'flow-through share' within the meaning of the Income Tax Act (
The Company has granted to the Underwriters an option (the 'Over-Allotment Option'), exercisable up to 48 hours prior to the closing of the Offering, to purchase for resale any combination of FT Units and Charity FT Units at their respective offering prices for additional gross proceeds of up to
Proceeds from the sale of FT Shares will be used to incur 'Canadian exploration expenses' as defined in subsection 66.1(6) of the Income Tax Act and 'flow through mining expenditures' as defined in subsection 127(9) of the Income Tax Act ('Qualifying Expenditures'). Such proceeds will be renounced to the subscribers with an effective date not later than
The Offering is scheduled to close on or around
The Underwriters will receive an aggregate cash fee equal to 7% of the gross proceeds from the Offering, including in respect of any exercise of the Over-Allotment Option. In addition, the Company will grant the Underwriters, on the date of Closing, broker warrants (the 'Broker Warrants') equal to 7% of the total number of FT Units and Charity FT Units sold under the Offering, including in respect of any exercise of the Over-Allotment Option. Each Broker Warrant will entitle the holder thereof to purchase one broker unit comprising one common share and one half of a Warrant at an exercise price equal to
This press release shall not constitute an offer to sell or the solicitation of an offer to buy the
About Appia
Appia is a Canadian publicly-listed company in the uranium and rare earth element sectors. The Company is currently focussing on delineating high-grade critical rare earth elements, gallium and uranium on the
Appia has 108.1 million common shares outstanding, 128.4 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 guarantees 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.
Contact:
Tel: 416-876-3957
Fax: 416-218-9772
Email: appia@appiaenergy.ca
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