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[antman]

Appia to raise $5 mil in bought deal

-About Appia Energy Corp. APAAF-(CSE.API)

"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 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-per-cent interest (subject to a 1-per-cent uranium production payment royalty and a 1-per-cent net smelter return royalty on any precious or base metals payable, provided that the price of uranium is greater than $130 (U.S.) 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.