Source: Appia Energy
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  • Appia Rare Earths & Uranium Corp. (API) has completed the final tranche of its non-brokered private placement offering for gross proceeds of $1,166,000.
  • Under the final tranche, the company issued 1,980,000 flow-through shares for $990,000 and 409,300 working capital units for $176,000
  • Under the offering, the company raised total gross proceeds of $3,666,000
  • Appia Rare Earths & Uranium Corp. is a Canadian company in the rare earth element and uranium sectors
  • Appia Rare Earths & Uranium Corp opened trading at $0.375

Appia Rare Earths & Uranium Corp. (API) has closed the final tranche of its non-brokered private placement offering.

Under the final tranche, the company issued 1,980,000 flow-through shares for gross proceeds of $990,000 and 409,300 working capital units for gross proceeds of $176,000.

Under the offering, the company raised total gross proceeds of $3,666,000.

Each FT share is priced at $0.50 and consists of one common share. Each WC unit is priced at $0.43 and consists of one common share of the company and one common share purchase warrant.

Each warrant issued entitles the holder to acquire one common share at an exercise price of $0.65 per warrant share until December 8, 2023.

Proceeds from the sale of WC units will be used for working capital requirements and other general corporate purposes.

Proceeds from the sale of FT shares will be used for exploration expenses on the company’s mining projects.

All securities issued are subject to a statutory four-month hold period expiring on April 9, 2023.

Appia Rare Earths & Uranium Corp. is a Canadian company in the rare earth element and uranium sectors.

Appia Rare Earths & Uranium Corp opened trading at $0.375.


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