VANCOUVER, BC--(Marketwired - February 21, 2017) - Anfield Resources Inc. (TSX VENTURE: ARY) (FRANKFURT: 0AD) (OTCQB: ANLDF) ("Anfield" or "the Company") is pleased to announce a fully-subscribed, non-brokered private placement for 15,000,000 Units at $0.10, for a total equity raise of $1.5 million. The Unit consists of one common share and a one share purchase warrant, with each warrant exercisable at $0.20 for a two year term. Finders' fees may be paid in certain instances. Finders' fee terms are 7% in cash and 7% of the number of Units placed in the form of Finders' warrants. Finders' warrants are exercisable at $0.20.
Corey Dias, Anfield's CEO, stated, "We are excited to announce the closing of this financing. These funds will allow us to advance Anfield's current projects and seek out further acquisition opportunities while positioning the Company to potentially up-list to the TSX Senior Exchange. We are very optimistic about the uranium market. The uranium spot price has seen an increase of over 45% in less than four months. We believe that the continued pace in the building of nuclear reactors in places such as China, India and the UAE will spur a continuing rally in uranium prices and entice both current and new producers to either maintain or expand their production efforts. Anfield aims to be a supply contributor once the uranium price reflects this reality."
The private placement is closed and the foregoing is subject to regulatory approval.
The proceeds of $1,500,000 will be used for project development and general working capital purposes.
Anfield is an energy metals 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 energy metals assets. Anfield is a publicly-traded corporation listed on the TSX Venture Exchange (ARY-V), the OTCQB Marketplace (ANLDF) and the Frankfurt Stock Exchange (0AD). Anfield is focused on two production centers, as summarized below:
Arizona/Colorado/Utah -- Shootaring Canyon Mill
The key asset in Anfield's conventional uranium portfolio is the Shootaring Canyon Mill in Garfield County, Utah. The Shootaring Canyon Mill is strategically located within one of the historically most prolific uranium production areas in the United States, and is one of only three licensed uranium mills in the United States.
Anfield's uranium assets consist of conventional mining claims and state leases in southeastern Utah, Colorado and Arizona, targeting areas where past uranium mining or prospecting occurred. Anfield's conventional uranium assets include the Velvet-Wood Project, the Frank M Uranium Project, as well as the Findlay Tank breccia pipe. All conventional uranium assets are situated within a 125-mile radius of the Shootaring Mill.
Wyoming Properties -- Irigaray ISR Processing Plant (Resin Processing Agreement)
Anfield's ISR mining projects are located in the Black Hills, Powder River Basin, Great Divide Basin, Laramie Basin, Shirley Basin and Wind River Basin areas in Wyoming, and comprise 2,667 federal mining claims, 56 Wyoming State leases and 15 private leases acquired from Uranium One in September 2016.
Anfield has agreed to enter into a Resin Processing Agreement with Uranium One wherein Anfield would process up to 500,000 pounds per annum of its mined material at Uranium One's Irigaray Central Processing Plant in Wyoming.
On behalf of the Board of Directors
ANFIELD RESOURCES INC.
Chief Executive Officer
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