Anfield Energy Inc. (CVE:AEC, OTCQB:ANLDF, FRANKFURT:0AD) announced today that it has arranged a non-brokered private placement to raise C$2.5mln in funds.
The company said funds will be used to develop Anfield’s uranium and vanadium assets, property costs and general working capital.
The company will issue 12.5mln units at a price of C$0.20.
Each unit consists of one common share and one share purchase warrant, with each warrant entitling the holder to purchase an additional common share at a price of C$0.40 for a period of five years.
The company said the private placement may be closed in tranches and finders' fees may be paid.