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Anfield Energy Increases Private Placement to $3.5 Million and Closes Initial Tranche
VANCOUVER, British Columbia, April 23, 2019 (GLOBE NEWSWIRE) -- Anfield Energy Inc. (TSX.V: AEC; OTCQB: ANLDF; FRANKFURT: 0AD) (“Anfield” or “the Company”) is p
About this update from Anfield Energy Inc
[{"type":"text","content":"VANCOUVER, British Columbia, April 23, 2019 (GLOBE NEWSWIRE) -- Anfield Energy Inc. (TSX.V: AEC; OTCQB: ANLDF; FRANKFURT: 0AD) (“Anfield” or “the Company”) is pleased to announce that it has increased the size of its non-brokered private placement to 17,500,000 units (each, a “Unit”) at a price of $0.20 per Unit, for gross of up to $3,500,000. The Company has closed an initial tranche of the placement through the issuance of 13,764,966 Units for proceeds of $2,752,993. As a reminder, 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 $0.30 for a period of three years. In connection with completion of the initial tranche of the placement, the Company has paid $74,356 and issued 301,700 Warrants to certain arms’-length third parties who have assisted the Company by introducing subscribers to the placement. All securities issued in connection with completion of the initial tranche of the placement are subject to a four-month-and-one-day statutory hold period prescribed by applicable securities laws. The completion of any further tranches of the placement remains subject to the approval of the TSX Venture Exchange. The proceeds from the placement will be used for the development of the Charlie Project (see below details), property maintenance costs, and general working capital. 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 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: Wyoming – Irigaray ISR Processing Plant (Resin Processing Agreement) Anfield has signed a Resin 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. In addition, the Company can both buy and borrow uranium from Uranium One in order to fulfill some or all of its sales contracts. Anfield’s 24 ISR mining projects are located in the Black Hills, Powder River Basin,...