Anfield Energy Announces C$4.3 Million Credit Facility with Shareholder
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TSX.V: AEC
OTCQB: ANLDF
FRANKFURT: 0AD
Anfield Energy Announces C$4.3 Million Credit Facility with Shareholder
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VANCOUVER, BRITISH COLUMBIA – September 27, 2023 — Anfield Energy Inc. (TSX.V: AEC; OTCQB:
ANLDF; FRANKFURT: 0AD) (“Anfield” or the “Company”) is pleased to announce that it has entered into
a credit agreement (the “Credit Agreement”) with existing shareholder Extract Advisors LLC, as Agent, on
behalf of Extract Capital Master Fund Ltd. (each as “Lender” and collectively, “Extract”) for a credit facility
of $4 .3 million (the “ Credit Facility ”). The Credit Facility , in addition to the company’s recent equity
financing, will support the Company’s asset transaction strategy , including the Marquez- Juan Tafoya
transaction, and ongoing work programs in pursuit of the Shootaring Canyon mill reactivation.
Corey Dias, Anfield’s CEO commented: “ We are pleased to have executed this dual-pronged financing
plan, facilitated with Extract, a shareholder of the Company. The facility offers us repayment flexibility
and moderated against what would have been larger share dilution on t he recent equity financing. The
funds not only help to advance the Shootaring Canyon Mill – which represents only one of three licensed,
permitted and constructed conventional uranium mills in the United States - but will also provide Anfield
with additional financial flexibility as we continue to advance and grow our strategic US-based uranium
and vanadium portfolio.”
The Credit Facility
Under the terms of the Credit Agreement, Extract shall provide Anfield with a single -draw, secured loan
for $4.3 million. The Credit Facility will have a maturity date which is five years from the closing date (the
“Maturity Date”), which is anticipated to be completed on or before September 30, 2023.
The Credit Facility will bear a coupon of the Secured Overnight Financing Rate (“SOFR”) plus 5.0% per
annum, payable semi-annually. Anfield, with written notice, may elect to capitalize the interest payable
on the Facility semi-annually, in arrears, at a rate of SOFR plus 7.0%. The Credit Facility will have an original
issue discount of 7%.
In connection with the Credit Facility, Anfield will issue 42,105,263 warrants to Extract, with each warrant
entitling the holder to acquire one common share of the company at an exercise price of $0. 095 per
warrant for a period ending on the Maturity Date (the “ Facility Warrants”). For so long as the Credit
Facility remains outstanding, all proceeds from the exercise of the Facility Warrants by the Lender shall
be used to repay the principal amount of the Credit Facility.
The Credit Facility will contain a voluntary prepayment option, allowing Anfield to prepay the Credit
Facility at any time after the twelve- month anniversary of the closing date by paying a prepayment fee
equal to 3% of the outstanding amount of the Credit Facility. The Credit Facility is secured by a corporate
guarantee and share pledge from each of the subsidiaries of Anfield and contains certain other customary
provisions, including certain covenants and default conditions in favour of Extract.
Closing of the Credit Facility and the issuance of the Facility Warrants remain subject to the TSX Ventur e
Exchange.
About Extract
Extract Advisors LLC is a natural resources fund manager with a concentration in the junior mining sector.
Extract was founded in 2012 and is based in Los Angeles and Toronto.
About Anfield
Anfield is a uranium and vanadium development and near -term production company that is committed
to becoming a top -tier energy -related fuels supplier by creating value through sustainable, efficient
growth in its assets. Anfield is a publicly traded corporation listed on the TSX -Venture Exchange (AEC-V),
the OTCQB Marketplace (ANLDF) and the Frankfurt Stock Exchange (0AD). Anfield is focused on its
conventional asset centre, as summarized below:
Arizona/Utah/Colorado – Shootaring Canyon Mill
A key asset in Anfield’s portfolio is the Shootaring Canyon Mill in Garfield County, Utah. The Shootaring
Canyon Mill is strategically located within one of the historically most prolific uranium production areas
in the United States, and is one of only three licensed uranium mills in the United States.
Anfield’s conventional uranium assets consist of mining claims and state leases in southeastern Utah,
Colorado, and Arizona, targeting areas where past uranium mining or prospecting occurred. Anfield’s
conventional uranium assets include the Ve lvet-Wood Project, the Slick Rock Project, the West Slope
Project, the Frank M Uranium Project, as well as the Findlay Tank breccia pipe. A combined NI 43-101 PEA
has been completed for the Velvet- Wood and Slick Rock Projects. The PEA is preliminary in nat ure, and
includes inferred mineral resources that are considered too speculative geologically to have economic
considerations applied to them that would enable them to be categorized as mineral reserves and,
resultantly, there is no certainty that the incl uded preliminary economic assessment would be realized.
All conventional uranium assets are situated within a 200-mile radius of the Shootaring Mill.
On behalf of the Board of Directors
ANFIELD ENERGY INC.
Corey Dias, Chief Executive Officer
Neither the 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 Energy Inc.
Clive Mostert
Corporate Communications
780-920-5044
www.anfieldenergy.com
Safe Harbor Statement
THIS NEWS RELEASE CONTAINS “FORWARD-LOOKING STATEMENTS”. STATEMENTS IN THIS NEWS RELEASE THAT ARE NOT
PURELY HISTORICAL ARE FORWARD-LOOKING STATEMENTS AND INCLUDE ANY STATEMENTS REGARDING BELIEFS, PLANS,
EXPECTATIONS OR INTENTIONS REGARDING THE FUTURE.
EXCEPT FO R ANY HISTORICAL INFORMATION PRESENTED HEREIN, MATTERS DISCUSSED IN THIS NEWS RELEASE CONTAIN
FORWARD-LOOKING STATEMENTS THAT ARE SUBJECT TO CERTAIN RISKS AND UNCERTAINTIES THAT COU LD CAUSE ACTUAL
RESULTS TO DIFFER MATERIALLY FROM ANY FUTURE RESULTS, PERFORMANCE OR ACHIEVEMENTS EXPRESSED OR IMPLIED BY
SUCH STATEMENTS. STATEMENTS THAT ARE NOT HISTORICAL FACTS, INCLUDING STATEMENTS THAT ARE PRECEDED BY,
FOLLOWED BY, OR THAT INCLUDE SUCH WORDS AS “ESTIMATE,” “ANTICIPATE,” “BELIEVE,” “PLAN” OR “EXPECT” OR SIMILAR
STATEMENTS ARE FORWARD-LOOKING STATEMENTS. RISKS AND UNCERTAINTIES FOR THE COMPANY INCLUDE, BUT ARE NOT
LIMITED TO, STATEMENTS OR INFORMATION RELATED TO THE USE OF PROCEEDS FROM THE OFFERING, THE RISKS ASSOCIATED
WITH MINERAL EXPLORATION AND FUNDING AS WELL AS THE RISKS SHOWN IN THE COMPANY’S MOST RECENT ANNUAL AND
QUARTERLY REPORTS AND FROM TIME-TO-TIME IN OTHER PUBLICLY AVAILABLE INFORMATION REGARDING THE COMPANY.
OTHER RISKS INCLUDE RISKS ASSOCIATED WITH THE REGULATORY APPROVAL PROCESS, COMPETITIVE COMPANIES, FUTURE
CAPITAL REQUIREMENTS AND THE COMPANY’S ABILITY AND LEVEL OF SUPPORT FOR ITS EXPLORATION AND DEVELOPMENT
ACTIVITIES. THERE CAN BE NO ASSURANCE THAT THE COMPANY’S EXPLORATION EFFORTS WILL SUCCEED OR THE COMPANY
WILL ULTIMATELY ACHIEVE COMMERCIAL SUCCESS. THESE FORWARD-LOOKING STATEMENTS ARE MADE AS OF THE DATE OF
T
HIS NEWS RELEASE, AND THE COMPANY ASSUMES NO OBLIGATION TO UPDATE THE FORWARD-LOOKING STATEMENTS, OR TO
UPDATE THE REASONS WHY ACTUAL RESULTS COULD DIFFER FROM THOSE PROJECTED IN THE FORWARD-LOOKING
STATEMENTS. ALTHOUGH THE COMPANY BELIEVES THAT THE BELIEFS, PLANS, EXPECTATIONS AND INTENTIONS CONTAINED IN
THIS NEWS RELEASE ARE REASONABLE, THERE CAN BE NO ASSURANCE THOSE BELIEFS, PLANS, EXPECTATIONS OR INTENTIONS
WILL PROVE TO BE ACCURATE. INVESTORS SHOULD CONSIDER ALL OF THE INFORMATION SET FORTH HEREIN AND SHOULD ALSO
REFER TO THE RISK FACTORS DISCLOSED IN THE COMPANY’S PERIODIC REPORTS FILED FROM TIME-TO-TIME.
THIS NEWS RELEASE HAS BEEN PREPARED BY MANAGEMENT OF THE COMPANY WHO TAKES FULL RESPONSIBILITY FOR ITS
CONTENTS.