Anfield Energy Inc. (TSX.V: AEC; OTCQB: ANLDF;
FRANKFURT: 0AD) (“
Anfield” or the
“
Company”) is pleased to announce that it has
closed its brokered private placement in which it issued 81,820,000
units of the Company (“
Units”) at a price of
C$0.055 per Unit (the “
Offering Price”), for
aggregate gross proceeds of C$4,500,100 (the
“
Offering”).
The Offering was conducted by a syndicate of
agents led by Haywood Securities Inc., and including Red Cloud
Securities Inc. (collectively, the “Agents”).
Management and directors of Anfield subscribed for an aggregate of
9,080,000 Units representing $499,400 of the gross proceeds of the
Offering.
Each Unit was comprised of one common share in
the capital of the Company (a “Share”) plus
one-half of one Share purchase warrant (each whole such warrant, a
“Warrant”). Each Warrant entitles the holder to
purchase one additional Share (a “Warrant Share”)
at an exercise price of C$0.085 until July 10, 2025.
In consideration for their services, the Agents
received a cash commission of $255,024, and were issued an
aggregate of 4,636,800 compensation options, with each compensation
option entitling the holder to purchase one common share of the
Company at a price of $0.055 per share until July 10, 2025.
The Units were sold to purchasers pursuant to
the listed issuer financing exemption (“LIFE
Exemption”) under Part 5A of NI 45-106. Other than Units
issued to insiders of the Company, the Units will not be subject to
resale restrictions pursuant to applicable Canadian securities
laws. All Units issued to insiders of the Company are subject to
restrictions on resale until November 11, 2023 in accordance with
the policies of the TSX Venture Exchange.
The net proceeds from the Offering will be used
to fund the advancement of the Company’s uranium and vanadium
assets in the United States, and for general corporate purposes
including the anticipated acquisition of the Marquez-Juan Tafoya
uranium project in New Mexico (as previously announced by the
Company on June 6, 2023).
The Offering included participation by certain
directors of the Company in the aggregate amount of 9,080,000
Units. This participation by insiders of the Company constitutes a
“related party transaction” within the meaning of TSX Venture
Exchange Policy 5.9 and Multilateral Instrument 61-101 – Protection
of Minority Security Holders in Special Transactions (“MI
61-101”). For their participation in the Offering, the
Company has relied upon the exemption from the formal valuation
requirements contained in Section 5.5(a) of MI 61-101 and has
relied upon the exemption from the minority shareholder approval
requirements contained in Section 5.7(1)(a) of MI 61-101.
The securities offered pursuant to the Offering
have not been, and will not be, registered under the U.S.
Securities Act of 1933, as amended (the “U.S. Securities
Act”) or any U.S. state securities laws, and may not be
offered or sold in the United States or to, or for the account or
benefit of, United States persons absent registration or any
applicable exemption from the registration requirements of the U.S.
Securities Act and applicable U.S. state securities laws. This news
release shall not constitute an offer to sell or the solicitation
of an offer to buy securities in the United States, nor shall there
be any sale of these securities in any jurisdiction in which such
offer, solicitation or sale would be unlawful.
About Anfield
Anfield is a uranium and vanadium development
and near-term production company that is committed to becoming a
top-tier energy-related fuels supplier by creating value through
sustainable, efficient growth in its assets. Anfield is a publicly
traded corporation listed on the TSX-Venture Exchange (AEC-V), the
OTCQB Marketplace (ANLDF) and the Frankfurt Stock Exchange (0AD).
Anfield is focused on its conventional asset centre, as summarized
below:
Arizona/Utah/Colorado – Shootaring Canyon
Mill
A key asset in Anfield’s portfolio is the
Shootaring Canyon Mill in Garfield County, Utah. The Shootaring
Canyon Mill is strategically located within one of the historically
most prolific uranium production areas in the United States, and is
one of only three licensed uranium mills in the United States.
Anfield’s conventional uranium assets consist of
mining claims and state leases in southeastern Utah, Colorado, and
Arizona, targeting areas where past uranium mining or prospecting
occurred. Anfield’s conventional uranium assets include the
Velvet-Wood Project, the Slick Rock Project, the West Slope
Project, the Frank M Uranium Project, as well as the Findlay Tank
breccia pipe. A combined NI 43-101 PEA has been completed for the
Velvet-Wood and Slick Rock Projects. The PEA is preliminary in
nature, and includes inferred mineral resources that are considered
too speculative geologically to have economic considerations
applied to them that would enable them to be categorized as mineral
reserves and, resultantly, there is no certainty that the included
preliminary economic assessment would be realized. All conventional
uranium assets are situated within a 200-mile radius of the
Shootaring Mill.
On behalf of the Board of DirectorsANFIELD
ENERGY INC.Corey Dias, Chief Executive Officer
Neither the TSX Venture Exchange nor its
Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for
the adequacy or accuracy of this release.
Contact:Anfield Energy Inc.Clive MostertCorporate
Communications780-920-5044contact@anfieldenergy.com
www.anfieldenergy.com
Safe Harbor Statement
THIS NEWS RELEASE CONTAINS “FORWARD-LOOKING
STATEMENTS”. STATEMENTS IN THIS NEWS RELEASE THAT ARE NOT PURELY
HISTORICAL ARE FORWARD-LOOKING STATEMENTS AND INCLUDE ANY
STATEMENTS REGARDING BELIEFS, PLANS, EXPECTATIONS OR INTENTIONS
REGARDING THE FUTURE.
EXCEPT FOR ANY HISTORICAL INFORMATION PRESENTED
HEREIN, MATTERS DISCUSSED IN THIS NEWS RELEASE CONTAIN
FORWARD-LOOKING STATEMENTS THAT ARE SUBJECT TO CERTAIN RISKS AND
UNCERTAINTIES THAT COULD CAUSE ACTUAL RESULTS TO DIFFER MATERIALLY
FROM ANY FUTURE RESULTS, PERFORMANCE OR ACHIEVEMENTS EXPRESSED OR
IMPLIED BY SUCH STATEMENTS. STATEMENTS THAT ARE NOT HISTORICAL
FACTS, INCLUDING STATEMENTS THAT ARE PRECEDED BY, FOLLOWED BY, OR
THAT INCLUDE SUCH WORDS AS “ESTIMATE,” “ANTICIPATE,” “BELIEVE,”
“PLAN” OR “EXPECT” OR SIMILAR STATEMENTS ARE FORWARD-LOOKING
STATEMENTS. RISKS AND UNCERTAINTIES FOR THE COMPANY INCLUDE, BUT
ARE NOT LIMITED TO, STATEMENTS OR INFORMATION RELATED TO THE USE OF
PROCEEDS FROM THE OFFERING, THE RISKS ASSOCIATED WITH MINERAL
EXPLORATION AND FUNDING AS WELL AS THE RISKS SHOWN IN THE COMPANY’S
MOST RECENT ANNUAL AND QUARTERLY REPORTS AND FROM TIME-TO-TIME IN
OTHER PUBLICLY AVAILABLE INFORMATION REGARDING THE COMPANY. OTHER
RISKS INCLUDE RISKS ASSOCIATED WITH THE REGULATORY
APPROVAL PROCESS, COMPETITIVE COMPANIES, FUTURE CAPITAL
REQUIREMENTS AND THE COMPANY’S ABILITY AND LEVEL OF SUPPORT FOR ITS
EXPLORATION AND DEVELOPMENT ACTIVITIES. THERE CAN BE NO ASSURANCE
THAT THE COMPANY’S EXPLORATION EFFORTS WILL SUCCEED OR THE COMPANY
WILL ULTIMATELY ACHIEVE COMMERCIAL SUCCESS. THESE FORWARD-LOOKING
STATEMENTS ARE MADE AS OF THE DATE OF THIS NEWS RELEASE, AND THE
COMPANY ASSUMES NO OBLIGATION TO UPDATE THE FORWARD-LOOKING
STATEMENTS, OR TO UPDATE THE REASONS WHY ACTUAL RESULTS COULD
DIFFER FROM THOSE PROJECTED IN THE FORWARD-LOOKING STATEMENTS.
ALTHOUGH THE COMPANY BELIEVES THAT THE BELIEFS, PLANS, EXPECTATIONS
AND INTENTIONS CONTAINED IN THIS NEWS RELEASE ARE REASONABLE, THERE
CAN BE NO ASSURANCE THOSE BELIEFS, PLANS, EXPECTATIONS OR
INTENTIONS WILL PROVE TO BE ACCURATE. INVESTORS SHOULD CONSIDER ALL
OF THE INFORMATION SET FORTH HEREIN AND SHOULD ALSO REFER TO THE
RISK FACTORS DISCLOSED IN THE COMPANY’S PERIODIC REPORTS FILED FROM
TIME-TO-TIME.
THIS NEWS RELEASE HAS BEEN PREPARED BY
MANAGEMENT OF THE COMPANY WHO TAKES FULL RESPONSIBILITY FOR ITS
CONTENTS.
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