Anfield Energy Amends Private Placement Terms, Total Proceeds Expected to Reach $10 Million
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 1h ago
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Source: Globenewswire
- Increased Financing Size: Anfield Energy has amended the terms of its non-brokered private placement to issue up to 1,345,292 common shares at $4.46 each, expecting gross proceeds of $6 million, which will enhance the company's liquidity to support project development.
- Confirmed Subscription Intent: Uranium Energy has indicated an intention to subscribe for up to 896,861 subscription receipts, potentially bringing an additional $4 million in financing, thereby increasing the total expected proceeds to $10 million and strengthening capital resources.
- Use of Proceeds: The company intends to utilize the net proceeds for capital commitments to the West Slope Project, Velvet-Wood Project, Slick Rock Project, and Shootaring Canyon Mill, ensuring smooth project advancement and enhancing future revenue potential.
- Regulatory Approval Requirements: The financing is subject to approval from the TSX Venture Exchange and NASDAQ, and must receive a simple majority vote from disinterested shareholders at a special meeting, ensuring compliance and protection of minority shareholder interests.
AEC
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About AEC
Anfield Energy Inc. is a Canada-based uranium and vanadium development and near-term production company. The Company’s portfolio of projects includes Shootaring Canyon Mill, Velvet-Wood, Slick Rock and West Slope. Its additional projects include Marquez-Juan Tafoya Uranium, Frank M, Findlay Tank Breccia Pipes, Newsboy Gold and Artillery Peak. The Shootaring Canyon Mill is located approximately 77 kilometers south of Hanksville, Utah. The Slick Rock is an advanced-stage uranium and vanadium project located in San Miguel County, Colorado, covering approximately 4,976 acres with 268 contiguous mineral lode claims. The West Slope Project, located in Montrose and San Miguel Counties of southwestern Colorado, consists of nine Department of Energy (DOE) leases, associated with adjacent lode mining claims and leases, covering 6,913 acres. It has also entered into a definitive agreement to acquire a 100% interest in twelve DOE leases and associated data in various counties in Colorado.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
