Appia Rare Earths & Uranium (CSE: API) (OTCQX: APAAF) (FSE: A0I0), a publicly traded Canadian company in the rare earth element (“REE”) and uranium sectors, has extended its nonbinding memorandum of understanding (“MOU”) with 15997356 Canada Inc. According to the announcement, the extended MOU outlines the company’s plans to option up to a 100% working interest in the company’s Elliot Lake Uranium Project, which is located in Elliot Lake Ontario; the original MOU was announced in May 2024. “The transaction was conditional upon the purchaser providing a financing commitment to Appia on or before July 9, 2024, failing which Appia could terminate the transaction,” said the company in the press release. “The deadline for the financing commitment has been extended to Aug. 9, 2024. All other terms of the original MOU apply except that Appia is no longer restricted from soliciting offers from new interested parties, and/or re-engaging with previously interested parties to explore other potential deal structures. Appia can terminate the transaction at any time on written notice to the purchaser.”
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About Appia Rare Earths & Uranium Corp.
Appia is a publicly traded Canadian company in the rare earth element and uranium sectors. The company holds the right to acquire up to a 70% interest in the PCH Ionic Adsorption Clay Project, which is 40,963.18 hectares in size and located within the Goiás State of Brazil. The company is also focusing on delineating high-grade critical rare earth elements and gallium on the Alces Lake property and is exploring for high-grade uranium in the prolific Athabasca ]Basin on its Otherside, Loranger, North Wollaston and Eastside properties. The company holds the surface rights to exploration for 94,982.39 hectares in Saskatchewan and also has a 100% interest in 13,008 hectares with rare earth elements and uranium deposits over five mineralized zones in the Elliot Lake Camp, Ontario. For more information about the company, please visit www.AppiaREU.com.
NOTE TO INVESTORS: The latest news and updates relating to APAAF are available in the company’s newsroom at https://ibn.fm/APAAF
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