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Anfield Energy Completes Transactions with Uranium Energy and $15 Million Private Placement


On June 8, 2022, Anfield Energy Inc. completed a debt settlement of US$18.34 million of indebtedness owed to Uranium Energy Corp. The indebtedness was fully settled through the payment to Uranium Energy of approximately US$9.17 million in cash from the net proceeds of the offering and the issuance to Uranium Energy of 96,272,918 dept units of Anfield, valued at US$0.095 per debt unit, for a total value of approximately US$9.17 million.  As a result of the debt settlement, Uranium Energy will become Anfield’s cornerstone shareholder, owning 15.4% on an outstanding basis and 26.7% on a partially diluted basis.

Concurrently, Anfield completed an asset swap to exchange certain of its properties for properties of Uranium Energy. Pursuant to the terms of the property swap, Anfield acquired Uranium Energy’s interest in the Slick Rock uranium-vanadium property located in San Miguel County, Colorado, in exchange for Uranium Energy acquiring Anfield’s in-situ recovery uranium asset portfolio in Wyoming. Slick Rock further consolidates Anfield’s position in the uranium-vanadium rich Uravan Mineral Belt, proximal to its existing Shootaring Canyon Mill.

In connection with the debt settlement, Anfield completed a bought deal private placement offering of subscription receipts at a price of C$0.12 for aggregate gross proceeds of C$15 million.  The offering was co-led by Haywood Securities Inc. and Red Cloud Securities Inc.

Cassels acted for Anfield.

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