Anfield closes $15M financing with Uranium Energy 2025-01-15 19:45 ET - News Release
Mr. Corey Dias reports
ANFIELD ANNOUNCES CLOSING OF C$15 MILLION EQUITY FINANCING
Anfield Energy Inc. has closed the equity portion of its previously announced financing whereby Uranium Energy Corp. (UEC) has acquired 107,142,857 shares of Anfield at a price of 14 cents per share for gross proceeds of $15-million (the equity financing).
The shares issued under the equity financing are subject to a hold period in Canada expiring four months and one day from the date of issuance. No finders' fees were payable in connection with the equity financing.
Following completion of the equity financing, Uranium Energy owns 203,415,775 common shares and 96,272,918 share purchase warrants of Anfield in aggregate, representing 17.8 per cent of Anfield on an outstanding basis and 24.2 per cent on a partially diluted basis. Uranium Energy has executed an undertaking with both the company and the TSX Venture Exchange not to exercise such number of its warrants held to the extent that, upon exercise thereof, it would cause Uranium Energy to become a control person (as defined in the policies of the TSX-V) as at the date of the subscription without written approval of the TSX-V, including any disinterested Anfield shareholder approval as may be required by the TSX-V.
Funds raised in the equity financing will be used to: 1) advance the reactivation plan for the Shootaring Canyon mill; 2) advance the plan of operations for the Velvet-Wood mine; 3) potentially seek out mine permits for certain DOE (Department of Energy) leases; 4) add key personnel to facilitate the advancement of both mines and mill; and 5) general corporate purposes, including the pursuit of a listing on a United States stock exchange.
About Anfield Energy Inc.
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, the OTCQB Marketplace and the Frankfurt Stock Exchange.