Ross J. Beaty

May 20, 2016 20:22 ET

News Release

VANCOUVER, BRITISH COLUMBIA--(Marketwired - May 20, 2016) - Ross J. Beaty, of 1550 - 625 Howe Street, Vancouver, British Columbia, V6C 2T6, today announced that on May 20, 2016 he acquired ownership of 2,439,025 common shares (the "Common Shares") of Anfield Gold Corp. ("Anfield"), a company with a head office at 410 - 625 Howe Street, Vancouver, British Columbia, V6C 2T6, at a purchase price of CDN$0.82 per Common Share for an aggregate purchase price of CDN$2,000,000.05. Mr. Beaty acquired ownership through the second closing (the "Second Closing") of a private placement transaction previously announced by Anfield on May 10, 2016.

Prior to the acquisition, Mr. Beaty owned, directly or indirectly, or exercised control or direction over 19,594,492 Common Shares and 1,933,333 warrants of Anfield, each warrant entitling the holder to purchase one Common Share of Anfield ("Warrants"). The 19,594,492 Common Shares represented approximately 28.6% of the total number of issued and outstanding Common Shares prior to the Second Closing. If all of Mr. Beaty's Warrants were exercised, Mr. Beaty would have owned, directly or indirectly, or exercised control or direction over, approximately 30.5% of the issued and outstanding Common Shares.

After the acquisition and after the completion of the Second Closing, Mr. Beaty now owns, directly or indirectly, or exercises control or direction over, 22,033,517 Common Shares and 1,933,333 Warrants. The 22,033,517 Common Shares represent approximately 23.7% of the total number of issued and outstanding Common Shares. If all of Mr. Beaty's Warrants were exercised, Mr. Beaty would own, directly or indirectly, or exercise control or direction over, approximately 25.3% of the issued and outstanding Common Shares.

Despite Mr. Beaty acquiring Common Shares under the Second Closing, the Second Closing has been dilutive to Mr. Beaty's Common Share holdings and has decreased the percentage of Common Shares that Mr. Beaty owns, directly or indirectly, or exercises control or direction over on a partially-diluted basis by 5.2%.

Mr. Beaty's acquisition was made for investment purposes. Mr. Beaty may, in the future, acquire ownership and control over additional securities of Anfield for investment purposes.

Contact Information

  • For more information, or to obtain a copy of the
    subject early warning report, please contact:
    Ross J. Beaty
    (604) 684-1175
    (604) 684-0147 (FAX)
    1550 - 625 Howe Street
    Vancouver, British Columbia - V6C 2T6