Anfield Energy has closed an underwritten public offering of 1,715,000 common shares at US$4.00 each, raising gross proceeds of US$6.9 million. The total includes the underwriters' option to buy an additional 233,695 shares, which was exercised in full.
The company had announced pricing on July 30 at roughly US$6.0 million, so the full exercise of the option lifted the size of the deal by about US$0.9 million. Underwriting discounts and commissions came to approximately US$261,600, leaving net proceeds below the headline figure.
Northland Capital Markets and Roth Capital Partners acted as joint bookrunners for a syndicate of underwriters, under an underwriting agreement dated July 30, 2026. The shares were sold in the United States and in all Canadian provinces and territories other than Quebec, using the company's existing shelf prospectuses and a registration statement on Form F-10 filed with the U.S. Securities and Exchange Commission.
Anfield trades on the TSX Venture Exchange and Nasdaq under the symbol AEC, and in Frankfurt as 0AD.
Existing shareholder took more than a third of the deal
Uranium Energy Corp, already a strategic investor in Anfield, participated through its wholly owned subsidiary UEC Energy Corp, buying 625,000 shares for US$2.5 million — about 36 percent of the gross proceeds.
Because Uranium Energy is a related party, the subscription falls under TSXV Policy 5.9 and Multilateral Instrument 61-101, the Canadian rules covering transactions with insiders. Anfield says it is relying on exemptions from the formal valuation and minority shareholder approval requirements, on the basis that neither the value of the securities issued to Uranium Energy nor the consideration paid exceeds 25 percent of Anfield's market capitalisation.
The company also did not file a material change report 21 days before closing, which the rules would normally require. According to the release, Uranium Energy's participation had not been confirmed at that point.
Where the money goes
Anfield says it intends to use the net proceeds to fund capital commitments at the Paradox Complex, the Velvet-Wood project, the Slick Rock Complex and the Shootaring Canyon Mill in Utah, as well as for working capital and general corporate purposes. No amounts were allocated to individual projects.
The release does not disclose Anfield's share count before or after the offering, its cash balance, or its current rate of spending, so the dilutive effect of the issue cannot be calculated from the announcement itself. The company describes itself as a development and near-term production business, meaning it is not yet generating production revenue from these assets.
Source: GlobeNewswire
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