Anfield Energy Amends Previously Announced Private Placement: US$6,000,000 Non-Brokered LIFE Offering of Common Shares and Concurrent US$4,000,000 Non-Brokered Private Placement of Subscription Receipts
Globenewswire·2025-12-24 21:56

Core Viewpoint - Anfield Energy Inc. has amended the terms of its non-brokered private placement, aiming to raise up to US$10,000,000 through the issuance of common shares and subscription receipts, with proceeds allocated for various projects and corporate purposes [1][2][4]. Group 1: Offering Details - The offering will consist of up to 1,345,292 common shares at a price of US$4.46 per share, generating gross proceeds of up to US$6,000,000 [1]. - Uranium Energy Corp. intends to subscribe for up to 896,861 subscription receipts at the same issue price, contributing an additional US$4,000,000 to the total offering [2]. - The total gross proceeds from the offering are expected to reach up to US$10,000,000 [2]. Group 2: Conditions and Approvals - Each subscription receipt will convert into one common share upon satisfaction of specific escrow release conditions by March 31, 2026 [3]. - The offering requires approval from the TSX Venture Exchange (TSXV) and the disinterested shareholders regarding Uranium Energy's participation as a "Control Person" [3][6]. - The company plans to rely on exemptions from formal valuation and minority shareholder approval requirements due to the expected market capitalization impact being below 25% [6]. Group 3: Use of Proceeds - The net proceeds from the offering will be utilized for capital commitments to the West Slope Project, Velvet-Wood Project, Slick Rock Project, and Shootaring Canyon Mill, along with general corporate purposes and working capital [4]. Group 4: Regulatory Compliance - The LIFE Shares will be offered to purchasers in Canada (excluding Quebec) and in the U.S. under available exemptions from registration requirements [7]. - The LIFE Shares issued to Canadian subscribers will not be subject to a hold period, while the subscription receipts will have a hold period of four months and a day [8].