Non-brokered deal funds exploration at Otherside, Loranger properties
By Devika Patel
Knoxville, Tenn., June 15 – Appia Energy Corp. said it has arranged a C$2 million non-brokered private placement of units.
The company will sell 5 million units of one common share and one warrant at C$0.20 per unit and 5 million flow-through units of one flow-through common share and one half-share warrant at C$0.20 per unit.
Each unit warrant will be exercisable at C$0.30 for three years. Each whole flow-through unit warrant will be exercisable at C$0.35 for 18 months. The strike prices are 50% and 75% premiums to the June 14 closing share price of C$0.20.
Proceeds will be used for exploration at the company’s Otherside and Loranger properties and for working capital.
The uranium producer is based in Toronto.
| Issuer: | Appia Energy Corp.
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| Issue: | Units of one common share and one warrant, flow-through units of one flow-through common share and one half-share warrant
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| Amount: | C$2 million
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| Price: | C$0.20
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| Agent: | Non-brokered
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| Pricing date: | June 13
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| Stock symbol: | CSE: API
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| Stock price: | C$0.20 at close June 14
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| Units
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| Amount: | C$1 million
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| Units: | 5 million
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| Warrants: | One warrant per unit
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| Warrant expiration: | Three years
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| Warrant strike price: | C$0.30
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| Flow-through units
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| Amount: | C$1 million
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| Units: | 5 million
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| Warrants: | One half-share warrant per unit
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| Warrant expiration: | 18 months
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| Warrant strike price: | C$0.35
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