VANCOUVER, BRITISH COLUMBIA--(Marketwired - Oct. 22, 2013) - Anfield Nickel Corp. ("Anfield") (TSX VENTURE:ANF) hereby announces that it has agreed with Lumina Capital Limited Partnership ("LCLP") to amend the terms of its loan from LCLP by: (i) increasing the amount from $3 million to $4 million; and (ii) extending the maturity date from the earlier of December 31, 2013 or two business days after the Company completes any financing greater than the $3 million loan amount plus accrued interest by way of private placement of shares to June 30, 2014 or two business days after the Company completes any financing greater than the $4 million loan amount plus accrued interest by way of private placement of shares.
The loan accrues interest at a rate of 12% per annum from the date the funds are advanced, compounded yearly and not in advance.
The loan cannot be converted into, exchanged for or otherwise modified to create any obligation on Anfield to issue, directly or indirectly, any equity or voting securities of Anfield or any subsidiary of Anfield, including with respect to the repayment of either principal or interest accruing in respect of the loan.
The loan will be used for working capital and general corporate purposes. As the loan is not convertible into equity or voting securities of Anfield, there will be no effect on the percentage of securities of Anfield held by LCLP as a result of the loan.
Anfield Nickel Corp.
David Strang
Contact Information:
David Strang
+ 604 646-1899
+ 604 687-7041 (FAX)