Anfield Announces Completion of US$6,000,000 Loan Financing

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[{"type":"text","content":"Anfield Announces Completion of US$6,000,000 Loan Financing\n\n\n\n VANCOUVER, British Columbia, March 18, 2025 (GLOBE NEWSWIRE) -- Anfield Energy Inc.\n \n (TSX.V: AEC; OTCQB: ANLDF; FRANKFURT: 0AD)\n \n (“Anfield” or the “Company”) announces that the Company has entered into an amending agreement (the “Amending Agreement”) with Extract Advisors LLC (“Extract”) for the extension of an additional US$6,000,000 increase to the existing credit facility dated September 26, 2023 (the “Credit Facility”), in connection with the indicative term sheet as previously announced by the Company on January 14, 2025.\n \n\n The Credit Facility will continue to have a maturity date of September 26, 2028 (the “Maturity Date”). The Credit Facility will continue to bear a coupon of the secured overnight financing rate (“SOFR”) plus 5 per cent per annum, payable semi-annually. Anfield, with written notice, may elect to capitalize the interest payable on the facility semi-annually, in arrears, at a rate of SOFR plus 7 per cent.\n \n\n In connection with the Amending Agreement, Anfield will issue 59,925,000 share purchase warrants to Extract (the “Facility Warrants”), with each such Facility Warrant entitling the holder thereof to acquire one common share of the Company at an exercise price of C$0.15 per share for a period ending on the Maturity Date. For so long as the Credit Facility remains outstanding, all proceeds from the exercise of the Facility Warrants by the lender shall be used to repay the principal amount of the Credit Facility. Extract has agreed, subject to the approval of the TSXV, not to exercise such number of its warrants held to the extent that, upon exercise thereof, it would cause Extract or its affiliates to hold in excess of 20% of the outstanding voting securities of Anfield.\n \n\n The Amending Agreement and the issuance of the Facility Warrants remain subject to the final acceptance of the TSXV.\n \n\n Funds 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 leases; 4) add key personnel to facilitate the advancement of both mines and mill; and 5) general corporate purposes....

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