VANCOUVER, British Columbia, April 02, 2025 (GLOBE NEWSWIRE) -- Anfield Energy Inc. (TSX.V: AEC; OTCQB: ANLDF; FRANKFURT: 0AD) (“Anfield” or the “Company”) announces the appointment of Ross McElroy to its Board of Directors. Mr. McElroy is a professional geologist bringing more than 38 years of mining industry experience both in operation and corporate capacities, involved with major, mid-tier and junior mining and exploration companies. As a very successful exploration geologist, he has been a key member in the discoveries of numerous world-class uranium and gold orebodies, several of which have been advanced to development and mining operations.
Mr. McElroy specializes in the exploration and development phases of projects and sits on various public and private boards. For the past 15 years, he has served on the boards of several publicly listed and private companies, as both an independent and executive director. His most recent executive role was as President and CEO of Fission Uranium Corp., a company of which he was a co-founder, and where under his leadership as CEO the company eliminated its debt and raised ~$200M in equity finance and where he ultimately navigated the $1.14B sale of Fission Uranium Corp to Paladin Energy in December 2024.
Amongst the many acknowledgments for his contribution towards success, he was awarded the Northern Miner “Mining Person of the Year” (2013), the prestigious PDAC “Bill Dennis Award” (2014), a Finalist in the E&Y “Entrepreneur of the Year” (2014) and the Mining Journal Outstanding Achievement Award winner for “Exploration of the Year”. Mr. McElroy holds a Bachelor’s Degree in Science, with a Specialization in Geology from the University of Alberta and is a registered professional geologist in Saskatchewan, British Columbia, Nunavut and the Northwest Territories.
Mr. McElroy was appointed following the recent death of Company director Eugene Spiering. The Company and the Board of Directors extends its condolences to the family, friends and colleagues of Mr. Spiering.
Results of Special Shareholder Meeting
The Company also announces that shareholder approval was received for a consolidation (the “Consolidation”) of the Company’s common shares on the basis of one new common share for up to 200 currently issued and outstanding common shares, or such lesser ratio as the Directors may deem appropriate. Approval was received at a special meeting of shareholders (the “Meeting”) held on March 31, 2025, with 97.9% of votes received in favour of the resolution.
For further information concerning the Meeting and the Consolidation, readers are encouraged to review the management information circular prepared by the Company for the Meeting. A copy of the circular is available for review under the profile for the Company on SEDAR+ (www.sedarplus.ca) and on the corporate website (https://anfieldenergy.com).
The Consolidation is being pursued as a necessary step to qualify for the listing of Anfield’s shares on The Nasdaq Stock Market LLC (“NASDAQ”). Readers are cautioned that while the Company intends to pursue a listing on NASDAQ at this time, it has not yet submitted an application for listing, and completion of a listing is subject to regulatory approvals and the satisfaction of applicable listing requirements. There can be no assurance that a listing will be completed, and the Company may elect not to proceed with a listing at any time. In the event a listing is completed it is expected that the common shares of the Company would continue to trade in Canada on the TSX Venture Exchange.
Completion of the Consolidation remains subject to the Board of Directors determining a final ratio, the satisfaction of applicable public distribution requirements and the approval of the TSX Venture Exchange. Completion of the Consolidation is not contingent upon completion of a listing on NASDAQ, and the Company may elect to complete the Consolidation in advance of any listing. The name of the Company, and its existing ticker symbol will remain unchanged in connection with the Consolidation.
AboutAnfield
Anfield is a uranium and vanadium development and near-term production company that is committed to becoming a top-tier energy-related fuels supplier by creating value through sustainable, efficient growth in its assets. Anfield is a publicly traded corporation listed on the TSX Venture Exchange (AEC-V), the OTCQB Marketplace (ANLDF) and the Frankfurt Stock Exchange (0AD).
On behalf of the Board of Directors
ANFIELD ENERGY INC. Corey Dias, Chief Executive Officer
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release. No securities regulatory authority has either approved or disapproved of the contents of this news release.
Cautionary Statement Regarding Forward-Looking Information
This news release contains “forward-looking information” within the meaning of applicable Canadian securities legislation. “Forward-looking information” includes, but is not limited to, statements with respect to the activities, events or developments that the Company expects or anticipates will or may occur in the future, including the anticipated completion of the Consolidation and the pursuit of a listing on a US stock exchange.
Generally, but not always, forward-looking information and statements can be identified by the use of words such as “plans”, “expects”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates”, or “believes” or the negative connotation thereof or variations of such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “occur” or “be achieved” or the negative connotation thereof.
Such forward-looking information and statements are based on numerous assumptions, including among others, that the Company will receive shareholder approval for the Consolidation; that the Company will receive regulatory approval for the Consolidation; and that the Company will be able to pursue a listing on a US stock exchange. Although the assumptions made by the Company in providing forward-looking information or making forward-looking statements are considered reasonable by management at the time, there can be no assurance that such assumptions will prove to be accurate.
There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company’s plans or expectations include the risk that the Company may not use the proceeds of the Equity Financing as currently anticipated; that the Company may not receive regulatory approval with respect to the Equity Financing; the risk that the Company may not have the resources, or may otherwise be unable to pursue a listing on a US stock exchange; risks relating to the actual results of the Company’s operational activities, fluctuating commodity prices, availability of capital and financing, general economic, market or business conditions, regulatory changes, timeliness of government or regulatory approvals and other risks detailed herein and from time to time in the filings made by the Company with securities regulators.
Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in the forward-looking information or implied by forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking information and statements will prove to be accurate, as actual results and future events could differ materially from those anticipated, estimated or intended. Accordingly, readers should not place undue reliance on forward-looking statements or information.
The Company expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise except as otherwise required by applicable securities legislation. We seek safe harbor.
