Appia Announces Acceleration of Expiry Date of 2017 Warrants to April 8, 2021
Toronto, March 9, 2021 - Appia Energy Corp. (CSE: API) (OTCQB: APAAF) (FSE: A0I.F) (FSE: A0I.MU) (FSE: A0I.BE) (the "Company" or "Appia") wishes to announce that expiry dates of the remaining 5,130,000 warrants exercisable at $0.30 issued pursuant to the private placements that closed on January 20, 2017 and January 30, 2017 (the "2017 Warrants") (see press releases dated January 23, 2017 and January 27, 2017) have been accelerated to the earlier of January 20 and 30, 2022 to April 8, 2021 as a result of the fact that the Company's common shares closed at a price of at least $0.60 for twenty (20) consecutive trading days as of March 8, 2021. The remaining 2017 Warrants will expire if they are not exercised by April 8, 2021.
The Company is fully funded and committed to completing the largest exploration and diamond drilling program to date during the summer months of 2021. In excess of 5,000 metres is expected to be drilled at Alces Lake this summer.
About Appia
Appia is a Canadian public-listed company in the rare earth element and uranium sectors. The Company is currently focusing on delineating high-grade critical rare earth elements ("REE") and uranium on the Alces Lake property, as well as prospecting for high-grade uranium in the prolific Athabasca Basin on its Loranger, North Wollaston, and Eastside properties. The Company holds the surface rights to exploration for 65,601 hectares (162,104 acres) in Saskatchewan.
The Company also has a 100% interest (subject to a 1% Uranium Production Payment Royalty and a 1% Net Smelter Return Royalty on any precious or base metals payable, provided that the price of uranium is greater than US$130 per pound) in 12,545 hectares (31,000 acres), with rare earth element and uranium deposits over five mineralized zones in the Elliot Lake Camp, Ontario. The Camp historically produced over 300 million pounds of U3O8 and is the only Canadian camp that has had significant rare earth element (yttrium) production. The deposits are largely unconstrained along strike and down dip.
Appia has 92.6 million common shares outstanding, 109.2 million shares fully diluted.
For more information, visit Appia's website at www.appiaenergy.ca
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 a guarantee 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.
Neither the Canadian Securities Exchange nor its Market Regulator (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.
For further information, please contact:
Tom Drivas, CEO and Director: (cell) 416-876-3957, (fax) 416-218-9772 or (email) appia@appiaenergy.ca
Frederick Kozak, President: (cellular) 403-606-3165 or (email) fkozak@appiaenergy.ca
Frank van de Water, Chief Financial Officer and Director, (tel) 416-546-2707, (fax) 416-218-9772 or (email) fvandewater@rogers.com
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/76606