Appia awaits Oct. 15 deadline for Ultra's deal

Executive Summary

• Ultra Rare Earth Inc. will acquire a 50 % equity stake in Appia Brasil Rare Earths Mineracao Ltda., the holder of the PCH REE project in Brazil.
• The acquisition is contingent on Ultra delivering notice of intent to close by Oct. 15, 2025.
• As part of the transaction, Ultra will invest US$2 million in a private placement of 5.52 million units at CAD 0.50 per unit (≈US$0.36), each unit comprising one common share and half a warrant (full warrant exercisable at CAD 0.70 for 24 months). Proceeds are earmarked for Appia’s general working capital.

Key Details

• Binding Term Sheet: Dated Aug. 29, 2025 among Appia Rare Earths & Uranium Corp., Beko Invest Ltd., Antonio Vitor Jr., and Ultra Rare Earth Inc.
• Target Entity: Appia Brasil Rare Earths Mineracao Ltda., owner of the PCH ionic‑adsorption clay (IRE) project in Tocantins structural province, Goiás state, Brazil.
• Equity Transfer: Ultra to acquire 50 % of Appia Brasil Rare Earths Mineracao Ltda.; remaining ownership retained by Appia and its partners.
• Closing Deadline: Ultra must notify Appia, Antonio Vitor Jr., and Beko of intent to close no later than Oct. 15, 2025 (close of business).
• Financing Component:
• Amount: US$2 million (≈ CAD 2.76 million at $1.38 USD/CAD).
• Units Offered: 5.52 million units @ CAD 0.50 per unit.
• Unit Structure: Each unit = 1 common share + ½ warrant; a full warrant exercisable at CAD 0.70 for 24 months.
• Use of Proceeds: General working capital for Appia.
• Previous Disclosures: References to earlier press releases (Sept. 2, 2025; Sept. 23, 2025) that outlined the full term sheet and project details.
• Company Context: Appia holds rights to acquire up‑to‑70 % of the 42,932 ha PCH IRE project, plus extensive exploration assets in Saskatchewan (94,982 ha) and Ontario (13,008 ha).

Notable Quotes

(No direct quotes were provided in the release.)