- Anfield Energy Inc. (AEC) has completed a debt settlement of US$18.34 million and asset swap with Uranium Energy Corp.
- It paid Uranium Energy US$9.17 million in cash and issued 96.2 million units
- Anfield swapped its Wyoming asset portfolio for Uranium Energy’s Slick Rock property
- It has also postponed its proposed consolidation of common shares indefinitely
- Anfield Energy Inc. (AEC) is up 9.52 per cent trading at $0.11 per share as of 2:40 p.m. ET
Anfield Energy (AEC) has announced a debt settlement of US$18.34 million and asset swap with Uranium Energy Corp.
Anfield paid Uranium Energy approximately US$9.17 million in cash and issued 96.2 million units in its capital priced at $0.12 each.
This was fulfilled through last month’s bought deal private placement offering, which automatically turned to 125 million units, which Anfield sold for $15 million.
According to Anfield, this makes Uranium a “cornerstone shareholder” of the company through a 15.40 per cent ownership on an outstanding basis and 26.70 per cent on a partially diluted basis.
In other news, Anfield announced the completion of an asset swap for some of its properties for select properties of Uranium Energy.
As a result, Anfield now owns Uranium Energy’s interest in the Slick Rock uranium-vanadium property in Colorado, in exchange for Anfield’s in-situ recovery uranium asset portfolio in Wyoming.
Anfield stated that owning Slick Rock further consolidates its position in the uranium-vanadium rich Uravan Mineral Belt, which is near the Shootaring Canyon Mill.
Anfield has also postponed its proposed consolidation of common shares indefinitely due to the current high levels of equity market instability.
Anfield Energy Inc. (AEC) is up 9.52 per cent trading at $0.11 per share as of 2:40 p.m. ET.