Anfield Energy Inc.

08:45 AM EST - Anfield Energy Inc. : Announced that it has completed the settlement of US$18.34 million of indebtedness which was owed to Uranium Energy Corp. The indebtedness was fully settled through the payment to UEC of approximately US$9.17 million in cash from the net proceeds of the Offering (as hereinafter defined) and the issuance to UEC of 96,272,918 units of Anfield, which were issued at a deemed aggregate value of approximately US$9.17 million or US$0.095 (C$0.12) per Debt Unit. Each Debt Unit is comprised of one common share of the Company plus one Common Share purchase warrant, with each Warrant entitling the holder thereof to acquire one Common Share at a price of C$0.18 until May 12, 2027. The securities underlying the Debt Units are subject to certain resale restrictions. As a result of the Debt Settlement, UEC will become Anfield’s cornerstone shareholder, owning 15.4% on an outstanding basis and 26.7% on a partially diluted basis. Anfield Energy Inc. shares V.AEC are trading up 2 cents at $0.11.

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