Anfield closes $6M (U.S.), $4M (U.S.) placements

Executive Summary

• Anfield Energy Inc. closed a $10 million U.S. capital raise consisting of a $6 million non-brokered LIFE offering and a concurrent $4 million non-brokered private placement of subscription receipts.
• The transaction includes 1,345,292 common shares issued at $4.46 U.S. per share and 896,861 subscription receipts issued to UEC Energy Corp., a subsidiary of Uranium Energy Corp.
• Net proceeds will be allocated to capital commitments for the West Slope, Velvet-Wood, Slick Rock, and Shootaring Canyon projects, as well as general corporate purposes and working capital.

Key Details

• LIFE Offering Terms: 1,345,292 common shares issued at $4.46 U.S. per share for gross proceeds of $6,000,000 U.S.
• Concurrent Private Placement Terms: 896,861 subscription receipts issued to UEC Energy Corp. for gross proceeds of $4,000,000 U.S.
• Total Gross Proceeds: $10,000,000 U.S.
• Subscription Receipt Conversion: Each receipt entitles UEC to receive one common share upon satisfaction of escrow release conditions on or before March 31, 2026, without additional consideration or further action.
• Regulatory & Shareholder Approvals: TSX-V approval required for UEC's participation; disinterested shareholder approval sought at a special meeting anticipated on or about Feb. 27, 2026.
• Use of Proceeds: Capital commitments to West Slope project, Velvet-Wood project, Slick Rock project, Shootaring Canyon mill, and general corporate purposes/working capital.
• Related Party Transaction: UEC's participation and CEO Corey Dias's participation (44,882 LIFE shares, $200,173.72 U.S. proceeds) constitute a related party transaction. Exemptions from MI 61-101 formal valuation and minority shareholder approval requirements applied as transaction value does not exceed 25% of market cap.
• Finders' Fees: No finders' fees or commissions were paid in connection with the offering.
• Early Warning Disclosure: Uranium Energy's ownership increased to approximately 28.8% on a non-diluted basis and approximately 36.8% on a partially diluted basis (including warrants and subscription receipts).
• Post-Offering Share Count: 17,288,115 common shares outstanding immediately following the offering.