Anfield Energy Secures C$26.5 Million for Growth Initiatives

Anfield Energy Secures C$26.5 Million for Growth Initiatives

VANCOUVER, British Columbia – Anfield Energy Inc. (TSX.V: AEC; OTCQB: ANLDF; FRANKFURT: 0AD) has decided to propel its business forward by securing a significant financing deal. The company has entered into a subscription agreement with Uranium Energy Corp. ("UEC") for the acquisition of 107,142,857 shares at C$0.14 each, raising gross proceeds of C$15 million. This strategic equity financing marks a vital move for Anfield as it sets its sights on enhancing its uranium and vanadium production capabilities.

Plans for a Senior US Exchange Listing

The agreement with UEC is timely as Anfield seeks to list its shares on a senior US stock exchange, a move driven by the company’s ambitions for expansive growth. CEO Corey Dias expressed enthusiasm for the deal, highlighting the compelling value this financing brings to Anfield. Combined with an increased credit facility of US$8 million from Extract Advisors LLC, Anfield's total financing now stands at approximately C$26.5 million.

Utilizing the Funding for Strategic Growth

This influx of funds will enable Anfield to efficiently pursue a range of initiatives. The focus will be on reactivating the Shootaring Canyon Mill, advancing operations at the Velvet-Wood mine, and potentially securing mine permits for various Department of Energy (DOE) leases. These steps are crucial not only for operational efficiency but also for the strategic positioning of Anfield in the energy sector.

A Look at Recent Developments

In conjunction with this financing, Anfield has opted to terminate its previously proposed arrangement with IsoEnergy, owing to the latter's failure to extend the original agreement. The Board of Directors deemed it best to scrap this plan and redirect efforts towards the current financing deals. This decision underscores Anfield's adaptability and focus on shareholder interests amidst changing circumstances.

Details of the Equity Financing

The Equity Financing is expected to conclude shortly, pending approval from the TSX Venture Exchange ("TSXV"). Importantly, the shares acquired by UEC will be subject to a hold period during which they cannot be traded. Following this transaction, UEC will become a notable shareholder, owning approximately 17.8% of Anfield's outstanding shares.

The Financial Landscape Beyond Equity Financing

Anfield is also strategically enhancing its financial landscape through credit facility amendments. The additional US$8 million from Extract will first be allocated towards repaying the promissory note related to the earlier arrangement with IsoEnergy. This financial maneuvering solidifies Anfield's operational base and prepares it for further expansion endeavors.

Future Operational Plans

The company has identified crucial operational plans that will benefit from the newly acquired funds. Enhancements to Anfield's mining operations and mill reactivation are at the forefront. This will include developing the skills of key personnel and upgrading resource estimates based on recent drilling results. Anfield is committed to advancing its existing projects while actively exploring new opportunities within the uranium and vanadium segments.

Support from Financial Partners

Haywood Securities Inc. has been enlisted as the financial advisor for Anfield during this transformative phase. Their expertise is invaluable as Anfield navigates complex financial landscapes and seeks effective strategies to optimize shareholder value.

Company Overview and Vision

As a public entity focused on uranium and vanadium development, Anfield Energy is committed to becoming a leading supplier in the energy sector. By concentrating on sustainable growth, Anfield aims to efficiently manage its assets while creating lasting value. The company's commitment is reflected in its strategic moves and proactive engagements with partners.

Frequently Asked Questions

What is the purpose of the financing announced by Anfield?

The financing is aimed at enhancing uranium and vanadium production, exploring a US stock exchange listing, and supporting several operational initiatives.

Who is the financial advisor for Anfield?

Haywood Securities Inc. is acting as the financial advisor, aiding in the strategic execution of the financing plans.

What operational initiatives will the financing support?

Funds will be used for projects like the reactivation of the Shootaring Canyon Mill and the Velvet-Wood mine, as well as general corporate purposes.

What share percentage will UEC own after the financing?

After the financing, UEC will own approximately 17.8% of Anfield’s outstanding shares.

What changes occurred in the arrangement with IsoEnergy?

Anfield decided to terminate its arrangement with IsoEnergy after IsoEnergy opted not to extend the agreement, allowing Anfield to focus on its current financing efforts.

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