Anfield Energy Inc. (TSX.V: AEC; OTCQB: ANLDF; FRANKFURT:
0AD) (“
Anfield” or
the
“
Company”) is pleased to announce that it has
closed the final tranche of its non-brokered private placement. The
final tranche, consisting of 71,920,520 units (each, a
“
Unit”) at a price of $0.085 per Unit, raised
gross proceeds of $6,116,644. Each Unit consists of one common
share and one share purchase warrant (each, a
“
Warrant”), with each Warrant entitling the holder
to purchase an additional common share at a price of $0.13 until
March 7, 2024. Red Cloud Securities Inc. acted as a finder with
respect to the private placement.
In connection with completion of the final
tranche of the private placement, the Company has paid $361,899 and
issued 4,245,631 Warrants to certain arms’-length parties who have
assisted the Company by introducing subscribers to the placement.
All securities issued in connection with completion of the final
tranche of the private placement are subject to a statutory hold
period ending July 8, 2022.
The proceeds from the private placement will be
used for property-related costs and development, and general
working capital.
The final tranche of the private placement
included participation by one member of management of the Company
in the aggregate amount of 300,000 Units. This participation
constitutes a “related party transaction” within the meaning of
Multilateral Instrument 61-101 – Protection of Minority Security
Holders in Special Transactions (“MI 61-101”). The
issuance of Units is exempt from the formal valuation and minority
shareholder approval requirements of MI 61-101 as it was a
distribution of securities for cash, and the fair market value of
the Units issued to and the aggregate consideration paid did not
exceed twenty-five percent of the Company’s market
capitalization.
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 also a
precious metals development company. 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 two asset centres, 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 Frank M Uranium Project, the West Slope
Project as well as the Findlay Tank breccia pipe. An NI 43-101
Preliminary Economic Assessment has been completed for the
Velvet-Wood Project. 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 there
is no certainty that the preliminary economic assessment would be
realized. All conventional uranium assets are situated within a
200-mile radius of the Shootaring Mill.
Wyoming – Resin Capture and Processing
Agreement
Anfield has signed a Resin Capture and
Processing Agreement with Uranium One whereby Anfield would process
up to 500,000 pounds per annum of its mined material at Uranium
One’s Irigaray processing plant in Wyoming.
The Charlie Project, Anfield’s flagship uranium
project, is located in the Pumpkin Buttes Uranium District in
Johnson County, Wyoming. The Charlie Project consists of a 720-acre
Wyoming State uranium lease which has been in development since
1969. A Preliminary Economic Assessment has been completed for the
Charlie Project.
Anfield’s 24 remaining ISR mining projects are
located in the Black Hills, Powder River Basin, Great Divide Basin,
Laramie Basin, Shirley Basin and Wind River Basin areas in Wyoming.
Anfield’s three projects in Wyoming for which NI 43-101 resource
reports have been completed are Red Rim, Nine Mile Lake and
Clarkson Hill.
On behalf of the Board of DirectorsANFIELD
ENERGY INC.Corey Dias, Chief Executive Officer
Neither 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.comwww.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 THE 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, 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 SEEKING THE CAPITAL NECESSARY TO
COMPLETE THE PROPOSED TRANSACTION, 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 WILL BE ABLE TO COMPLETE THE PROPOSED TRANSACTION,
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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