• Appia Rare Earths & Uranium signed a May 21, 2026 share exchange agreement to transfer its 25% stake in Ultra Brasil Rare Earths Mineração to Ultra Rare Earth Inc. in exchange for 2,342,500 shares of Ultra USA common stock.
• The transaction updates a deal first outlined on Nov. 3, 2025, restructuring ownership so Ultra USA and its wholly owned Ultra Bahamas unit will hold 100% of Ultra Brasil, split 50%-50%.
• Appia will hold a 25% equity interest in Ultra USA following closing, which is scheduled for early next week.
• Ultra Brasil holds rare earth exploration and development targets in Goiás State, Brazil, including the Ultra Hard Rock Carbonatite and Ultra IAC targets.
• Tom Drivas is set to join Ultra USA’s board at closing, with Ultra USA also granting 702,750 share options, including 275,000 to Drivas, priced at the greater of US$ 5 and the then-fair market value.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Appia Rare Earths & Uranium Corp. published the original content used to generate this news brief on May 22, 2026, and is solely responsible for the information contained therein.