Anfield Energy Announces C$5 Million Financing

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VANCOUVER, British Columbia, June 15, 2023 (GLOBE NEWSWIRE) -- Anfield Energy Inc. (TSX.V: AEC; OTCQB: ANLDF; FRANKFURT: 0AD) (“Anfield” or the “Company”) is pleased to announce that it has entered into an agreement with Haywood Securities Inc., on behalf of a syndicate of agents (collectively, the “Agents”), who have agreed to sell, on a commercially reasonable efforts private placement basis, 90,909,090 units of the Company (“Units”) at a price of C$0.055 per Unit (the “Offering Price”), for aggregate gross proceeds of C$4,999,999.95 (the “Offering”). Each Unit will be comprised of one common share in the capital of the Company (a “Share”) plus one-half of one Share purchase warrant (each whole such warrant, a “Warrant”). Each Warrant will entitle the holder thereof to purchase one Share (a “Warrant Share”) at an exercise price of C$0.085 for 24 months following the completion of the Offering.

The Units to be issued under the Offering will be offered to purchasers pursuant to the listed issuer financing exemption (“LIFE Exemption”) under Part 5A of NI 45-106, and will not be subject to resale restrictions pursuant to applicable Canadian securities laws.

There is an offering document related to the Offering that can be accessed under the Company’s profile on SEDAR at www.sedar.com and on the Company’s website at www.anfieldenergy.com. Prospective investors should read this offering document before making an investment decision.

The Company plans to use the net proceeds from the Offering to fund the advancement of the Company’s uranium and vanadium assets in the United States, and for general corporate purposes including the acquisition of the Marquez-Juan Tafoya uranium project in New Mexico (as previously announced by the Company on June 6, 2023). The Offering is scheduled to close on or about July 6, 2023 (the “Closing Date”) and is subject to certain conditions customary for transactions of this nature including, but not limited to, the receipt of necessary regulatory approvals, including the approval of the TSX Venture Exchange. The Company has agreed to pay the Agents a cash commission of 6% of the gross proceeds raised under the Offering and will issue to the Agents that number of compensation options (“Compensation Options”) equal to 6% of the Units issued under the Offering, with each Compensation Option exercisable into one Share at an exercise price equal to the Offering Price for a period of 24 months.