Anfield Announces Debt Settlement Transaction
608, 1199 West Pender Street Vancouver, B.C. V6E 2R1 Tel: (604) 687-0300 Fax: (604) 687-0151
ANFIELD RESOURCES INC.
(TSX.V – ARY) October 16, 2013
ANFIELD ANNOUNCES DEBT SETTLEMENT TRANSACTION
Anfield Resources Inc. (TSX VENTURE: ARY) (the “Company”) Corey Dias, the Company’s Chief Executive Officer announces that the Company has reached an agreement with creditors of the Company to settle indebtedness in the aggregate amount of $1,287,871.24 by issuing 5,151,485 common shares of the Company (the "Shares") at a deemed price of $0.25 per share.
In light of the Company’s current working capital position and in order to preserve capital to fund the development of the Company’s projects, the Company has agreed to the conversion of the indebtedness into Shares, subject to the approval of the TSX Venture Exchange ("TSX-V").
All securities issued in connection with the debt settlement will be subject to a statutory hold period of four months plus a day from the date of issuance of the Shares, in accordance with applicable securities legislation.
Closing of the Shares for Debt Settlement is subject to a number of conditions, including receipt of all necessary corporate and regulatory approvals, including the TSX-V.
On behalf of the Board of Directors of Anfield Resources Inc.
Corey Dias Chief Executive Officer
Forward-Looking Statement
This news release includes certain statements that may be deemed "forward-looking statements". Forward-looking information includes, but is not limited to: statements with respect to the effect and estimated timeline of the drilling and assay results on the Company; the estimation of mineral reserves and mineral resources; the timing and amount of estimated future exploration; costs of exploration; capital expenditures; success of exploration activities;
permitting time lines and permitting; government regulation of mining operations; potential future expansion of the PFNP; environmental risks; unanticipated reclamation expenses; and title disputes or claims. Generally, forwardlooking information can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". All statements in this release, other than statements of historical facts, including the likelihood of commercial mining and possible future financings are forward-looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include: unsuccessful exploration results; changes in metals prices; changes in the availability of funding for mineral exploration; unanticipated changes in key management personnel and general economic conditions. Mining is an inherently risky business. Accordingly the actual events may differ materially from those projected in the forward-looking statements. For more information on the Company and the risks and challenges of its business, investors should review the Company's annual filings that are available at www.sedar.com.
NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
Contact:
Anfield Resources Inc.
Clive Mostert Corporate Communications (780) 920-7670 [email protected]