Appia Announces Closing of Transaction with Ultra Rare Earth Inc., Including $2,780,000 CAD Financing

Core Viewpoint - Appia Rare Earths & Uranium Corp. has successfully closed a private placement transaction with Ultra Rare Earth Inc., resulting in Ultra acquiring a 50% interest in Appia Brasil Rare Earths Mineracao Ltda, which holds the PCH Project in Brazil [1][2][3]. Group 1: Transaction Details - Appia issued 5,560,000 units at $0.50 each, raising a total of $2,780,000 CAD (approximately $2 million USD) [2]. - Ultra acquired a 45% interest in Appia Brasil from Appia and a 5% interest from Antonio, resulting in a 50% ownership [3]. - Ultra will invest a total of $6 million USD in Appia Brasil to fund exploration and prepare a mineral resource estimate [3]. Group 2: Project Development - The funds from Ultra will be used to expand drilling efforts and advance the PCH Ionic Clay project to the prefeasibility study stage [3]. - Appia Brasil is located in the Tocantins Structural Province of the Brasília Fold Belt, Goiás State, Brazil [2]. Group 3: Management and Governance - A new Management Committee will be established, consisting of five members, with Ultra having 50% of the voting power [3]. - Appia and Antonio will be carried to the prefeasibility study stage with the expenditure of the $6 million [3]. Group 4: Future Obligations and Rights - Following the completion of a prefeasibility study, Ultra is obligated to acquire a 100% interest in Appia Brasil by issuing equity interests to Appia and Antonio [4][11]. - Appia and Antonio will have pre-emptive rights to participate in future financings of Ultra to maintain their interests [11].