Toronto, Ontario–(Newsfile Corp. – June 3, 2019) – Appia Energy Corp. (CSE: API) (OTCQB: APAAF) (FSE: A0I.F) (FSE: A0I.MU) (FSE: A0I.BE) (the “Company” or “Appia) is pleased to announce that it has signed a Capital Markets Advisory Agreement (the “Agreement“) with Red Cloud Klondike Strike Inc. (“Red Cloud“) to provide the Company with capital markets advisory services.
The Agreement has a minimum term of six months (Red Cloud will be paid a monthly fee of $10,000) and may be terminated at any time thereafter by giving 30 days’ prior written notice. An affiliate of Red Cloud was granted 300,000 options to purchase common shares of the Company at $0.40 per share for a period of three years (subject to early termination) with 100,000 options vesting immediately, 100,000 options vesting in one year and a further 100,000 options vesting in two years.
About Red Cloud
Red Cloud is an exempt market dealer focused on providing unique and innovative financing alternatives, growth opportunities, and market exposure for select mining companies.
The Red Cloud team has a mix of technical and financial expertise with over 150 cumulative years of combined mining and corporate finance experience. Working as an extension of management, the Red Cloud team uses its global network of mining and capital markets professionals and extensive in-house experience in the many facets of the mining business to help companies identify sources of capital and quality actionable merger, acquisition and divestiture opportunities, and to generate and maintain important relationships with key investors.
Appia is a Canadian publicly-traded company in the uranium and rare earth element 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 64,045 hectares (158,259 acres) in Saskatchewan.
The Company also has a 100% interest in 13,008 hectares (32,143 acres), including rare earth element and uranium deposits over five mineralized zones in the Elliot Lake Camp, Ontario, which historically produced over 300 million pounds of U3O8 and is the only Canadian camp that has had significant rare earth element (yttrium) production.
Appia’s technical team is directed by James Sykes, who has had direct and indirect involvement with over 550 million lbs. U3O8 being discovered in five deposits in the Athabasca Basin.
Appia has 65.0 million common shares outstanding, 85.9 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.
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, President, CEO and Director: (tel) 416-546-2707, (fax) 416-218-9772 or (email) [email protected]
James Sykes, VP Exploration & Development, (tel) 306-221-8717, (fax) 416-218-9772 or (email) [email protected]
Frank van de Water, Chief Financial Officer and Director, (tel) 416-546-2707, (fax) 416-218-9772 or (email) [email protected]
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/45240