Anfield Resources Inc. (TSXV:ARY) arranged a non-brokered, fully subscribed private placement for 2,222,222 million units, at a price of $0.27 per unit.
As quoted in the press release:
Each Unit consists of one common share and one share purchase warrant. Each warrant will entitle the holder to purchase an additional common share at a price of $0.40 for a period of 18 months. There will be a forced conversion of the warrants if the shares trade over $0.80 for a period of 21 days.
Anfield Resources Inc. CEO, Corey Dias, said:
This financing is a significant step for Anfield to further advance our strategic objective of pursuing near-term production and revenue generation through toll milling. The proximity of our uranium properties to the White Mesa Mill, operated by Energy Fuels, gives our project some unique advantages. The first advantage is that the permitting of these past-producing properties will be streamlined, since the Company will not be processing the ore. A second related advantage is that the capital required to bring these properties into production will be lower than any existing greenfield uranium project because the Company will not be required to build a mill. The Company and its new shareholders feel that this is a unique opportunity to exploit Anfield’s burgeoning uranium portfolio, and that by beginning the permitting process now, the Company will be well positioned to capitalize when strong uranium markets return.