On October 27, 2021 Appia Rare Earths & Uranium Corp. (“Appia”) announced that it and Red Cloud Securities Inc., as lead underwriter and sole bookrunner on behalf of a syndicate of underwriters (collectively, the “Underwriters”), have agreed to increase the size of the Company’s previously announced private placement from C$6,000,000 to C$7,000,000. Under the revised private placement, the Underwriters have agreed to purchase for resale any combination of the following securities for aggregate gross proceeds of C$7,000,000 (the “Offering”):

  • flow-through units of the Company (each, a “FT Unit”) at a price of C$0.90 per FT Unit; and
  • FT Units to be sold to charitable purchasers (the “Charity FT Units”) at a price of C$1.00 per Charity FT Unit, subject to the minimum purchase for resale of 5,000,000 Charity FT Units for minimum gross proceeds of C$5,000,000.

Appia has granted to the Underwriter an 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 C$1,500,000.