Anfield Resources closes $2.88-million placement
Momentum Public Relations
Press Release: March 6, 2017
Mr. Corey Dias reports
ANFIELD RESOURCES INC. COMPLETES $2.9 MILLION PRIVATE PLACEMENT
Anfield Resources Inc. has completed its private placement of units at 10 cents announced on Feb. 21. The placement was oversubscribed and on closing the company issued 28,880,615 units for gross proceeds of $2,888,061. Each unit consists of one common share and a one share purchase warrant, with each warrant entitling the holder to acquire an additional common share at a price of 20 cents for a period of 24 months.
Corey Dias, Anfield’s chief executive officer, stated: “We are excited to have closed on a financing which is significantly larger than the $1.5-million private placement we had originally announced on Feb. 21. With these funds, Anfield will both advance its current projects and pursue acquisition opportunities as we remain extremely optimistic with regard to the uranium market and its future prospects. It is important to note that the 447 commercial nuclear reactors now operating in 31 countries across the world currently meet 11 per cent of global electricity demand; however, with 59 reactors currently under construction and a planned and proposed reactor pipeline totalling more than 500, it is clear that nuclear power will remain an integral part of the global energy mix.”
In connection with closing, the company paid fees of $22,050 and issued 220,500 warrants to eligible finders who introduced subscribers to the company. All securities issued in connection with the private placement are subject to a four-month-and-one-day statutory hold period. The proceeds of the private placement will be used for project development and general working capital purposes.
About Anfield Resources Inc.
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 ISR (in situ recovery) 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.
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