Anfield Energy Closes US$6.9 million Underwritten Public Offering
Anfield raises $6.9 million at $4.00 per share to support its Utah-CO hub-and-spoke exploration strategy.
Anfield Energy Inc. closed a previously announced underwritten public offering of 1,715,000 common shares at $4.00 per share, generating $6.9 million in gross proceeds. The offering included the full exercise of the underwriters' over-allotment option. Strategic investor Uranium Energy Corp. (UEC), via its subsidiary UEC Energy Corp., purchased 625,000 shares for $2.5 million, constituting a related-party transaction. Net proceeds will fund capital commitments to the Paradox Complex, Velvet-Wood Project, Slick Rock Complex, and Shootaring Canyon Mill, alongside working capital. The transaction relies on standard prospectus exemptions and closes subject to customary conditions.
Anfield Energy Inc. (AEC) has announced a routine capital raise designed to extend its operating runway into late 2026 and early 2027. The financing was priced at $4.00 per share, representing a discount to the January 2026 private placement price of $4.46, a move that signals near-term supply pressure.
The participation of UEC in the offering serves as validation of the company's hub-and-spoke thesis. UEC's continued capital commitment is expected to reduce execution risk and align shareholder interests. The financing is incremental and directly funds the company's stated path to Velvet-Wood production and mill restart. The transaction does not alter the fundamental development timeline but provides necessary liquidity to avoid further near-term dilution.
Anfield Energy Inc. (AEC) operates a hub-and-spoke uranium and vanadium production model in the Western United States. The central hub is the Shootaring Canyon Mill in Utah, one of only three licensed conventional uranium mills in the U.S., which is currently undergoing refurbishment to increase throughput to 1,000 tpd. The spokes include the Velvet-Wood mine in Utah, the Slick Rock complex, and multiple West Slope mines (JD-5 through JD-9, SM-18) in Colorado.
The company targets near-term production at Velvet-Wood by the end of 2026 and a mill restart in 2027. An updated preliminary economic assessment (PEA) highlights a 106% pre-tax internal rate of return (IRR) and $606 million net present value (NPV) at $100/lb U and $9/lb V, though these figures are based on preliminary assumptions and do not yet represent proven reserves.