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Anfield Resources Inc. Signs Term Sheet for Credit Facility to Position Anfield to Meet its Financial Obligations Related to the Uranium One Transaction
(via Thenewswire.ca) VANCOUVER, BRITISH COLUMBIA / TNW-ACCESSWIRE / December 4, 2014 / A...
About this update from Anfield Energy Inc
[{"type":"text","content":"Anfield Resources Inc. Signs Term Sheet for Credit Facility to Position Anfield to Meet its Financial Obligations Related to the Uranium One Transaction(via Thenewswire.ca)\n\n \nVANCOUVER, BRITISH COLUMBIA / TNW-ACCESSWIRE / December 4, 2014 / Anfield Resources Inc. (TSX.V: ARY)(OTCQB: ANLDF) (Frankfurt: 0AD) (\"Anfield\" or \"the Company\") announced today that it has signed a term sheet with a US debt lender for a credit facility (the \"Facility\"). The Facility, pending due diligence, is intended to allow Anfield to meet all of its financial obligations required to close the transaction provided for under the asset purchase agreement with Uranium One Americas (\"Uranium One\") announced on August 18, 2014. These obligations include obtaining replacement letters of credit sufficient to replace Uranium One's existing surety bonds on the Shootaring Canyon uranium mill and associated assets.\n\n\n \nCorey Dias, CEO of the Company stated: \"We are thrilled to be taking another critical step towards the closing of the Uranium One transaction. Following both conditional approval for the transaction from the TSX Venture and conditional approval from the Utah Department of Radiation Control for the transfer of Shootaring Canyon mill's radioactive materials license to Anfield, the replacement of the surety bonds is the biggest remaining hurdle to closing the transaction. Moreover, not only would the credit facility allow us to meet our financial obligations with regard to the transaction, but it would also allow us to do so without any equity dilution to existing shareholders. \n\n\n \nWe are also thrilled to note the positive news which is emanating from the uranium sector: for example, Japan's upcoming restart of nuclear reactors and the headlines wherein China has committed to carbon cap emissions by 2030, which would potentially mean a build-out of 1,000 nuclear reactors in that country; and, perhaps as a result of such news, the continuing upward trend in the spot price of U3O8, which has seen a 39% gain since July, currently sitting at US$39.00 per pound. All of these points reinforce our view with regard to the attractiveness of the uranium sector.\"\n\n\n \nAbout Anfield's Uranium Properties\n\n\n \nAnfield is an energy metals exploration, development and near-term production company that is committed to becoming a top-tier en...