Anfield Resources closes $1.5M private placement

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By Ted Liu

Anfield Resources Inc. (TSX-V: ARY; FSE: 0AD; OTCQB: ANLDF), an uranium development and near-term production company, has arranged a fully-subscribed, non-brokered private placement of 15,000,000 units at $0.10 per unit for gross proceeds of $1.5 million.

The private placement is closed and is subject to regulatory approval. Anfield Resources intends to use proceeds for project development and general working capital purposes.

Each unit consists of one common share and a one share purchase warrant exercisable at $0.20 for a two year term. Finders’ fees may be paid in certain instances.

“We are excited to announce the closing of this financing. These funds will allow us to advance Anfield’s current projects and seek out further acquisition opportunities while positioning the Company to potentially up-list to the TSX Senior Exchange. We are very optimistic about the uranium market. The uranium spot price has seen an increase of over 45% in less than four months. We believe that the continued pace in the building of nuclear reactors in places such as China, India and the UAE will spur a continuing rally in uranium prices and entice both current and new producers to either maintain or expand their production efforts. Anfield aims to be a supply contributor once the uranium price reflects this reality,” said Corey Dias, CEO of Anfield Resources.

Anfield Resources is focused on two production centers, Arizona/Colorado/Utah — Shootaring Canyon Mill and Wyoming Properties — Irigaray ISR Processing Plant (Resin Processing Agreement).

photo credit: Anfield Resources