Anfield Energy Upsizes Private Placement

VANCOUVER, British Columbia, May 05, 2021 (GLOBE NEWSWIRE) -- Anfield Energy Inc. (TSX.V: AEC; OTCQB: ANLDF; FRANKFURT: 0AD) (“Anfield” or “the Company”) is pleased to announce that it has increased the size of its non-brokered private placement to 50,0000,000 Units at a price of $0.085 per Unit, for a total equity raise of up to $4,250,000 (“the Offering”). Each Unit consists of one common share and one share purchase warrant, with each warrant entitling the holder to purchase an additional common share at a price of $0.13 for a period of twenty-four (24) months. Red Cloud Securities, Inc. is acting as a Finder with respect to the Offering.

The private placement may be closed in tranches. Finders’ fees may be paid in certain circumstances. The foregoing is subject to regulatory approval. All securities to be issued in connection with the private placement will be subject to a four-month-and-one-day statutory hold period in accordance with applicable securities laws.

The proceeds from the private placement will be used for the development of the West Slope vanadium/uranium properties, the Charlie Project and other Wyoming-based ISR projects, the Newsboy Gold Project, property-related costs, and general working capital.

About Anfield

Anfield is a uranium and vanadium 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 assets. Anfield is also a precious metals development company. Anfield is a publicly-traded corporation listed on the TSX-Venture Exchange (AEC-V), the OTCQB Marketplace (ANLDF) and the Frankfurt Stock Exchange (0AD). Anfield is focused on three asset centres, as summarized below:

The Newsboy Gold Project
The Newsboy Gold Project, located 45 miles northwest of Phoenix, Arizona and 10 miles southeast of Wickenberg in Maricopa County, consists of 2,243 acres of land which is comprised of 35 Federal Lode Claims and 4 State leases.

Between 1987 and 1989, Westmont Mining Company conducted reconnaissance geological mapping, rock chip geochemistry and 102 holes (totaling 7,184 metres) of reverse-core drilling at Newsboy. In 1990, Pima Mining NL drilled 12 diamond core holes (512 metres), 40 reverse core holes (2,000 metres), and completed metallurgical test work, resource and reserve estimates and mine-planning studies.