Anfield Energy closes $10 million financing with Uranium Energy participation

Anfield Energy Inc. (TSX.V: AEC; NASDAQ: AEC; FRANKFURT: 0AD) completed a $10 million financing comprising two separate offerings, according to a company statement.

The uranium and vanadium development company raised $6 million through a non-brokered private placement of 1,345,292 common shares at $4.46 per share under the listed issuer financing exemption. Concurrently, the company closed a $4 million private placement of 896,861 subscription receipts issued to UEC Energy Corp., a subsidiary of Uranium Energy Corp. (NYSE American: UEC), at the same price.

Uranium Energy, which is Anfield's controlling shareholder, now holds beneficial ownership of 4,978,877 common shares, 1,283,639 warrants, and 896,861 subscription receipts through its subsidiary UEC. This represents approximately 28.8% of outstanding common shares on a non-diluted basis and 36.8% on a partially diluted basis.

The subscription receipts will convert to common shares upon satisfaction of escrow release conditions by March 31, 2026. These conditions require TSX Venture Exchange approval and approval by disinterested shareholders of Uranium Energy as a control person at a special meeting anticipated for February 27, 2026.

Anfield plans to use the proceeds to fund capital commitments to the West Slope Project, Velvet-Wood Project, Slick Rock Project, and Shootaring Canyon Mill, plus general corporate purposes and working capital.

The common shares issued to Canadian subscribers are not subject to a hold period, while the subscription receipts carry a four-month-and-one-day hold period under Canadian securities laws. The company paid no finders' fees or commissions on the offerings.

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