Anfield Energy Inc. (CVE:AEC, OTCQB:ANLDF, FRANKFURT:0AD) announced today that is has closed its oversubscribed non-brokered private placement, raising more than C3.8mln.
The company issued 19.2mln units at a price of C$0.20, raising C$3.84mln.
The company said the funds will be used for both the development of the Anfield’s uranium and vanadium assets and general working capital.
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 all securities issued in connection with the private placement are subject to a four-month-and-one-day statutory hold period.