VANCOUVER, British Columbia, April 22, 2025 (GLOBE NEWSWIRE) -- Anfield Energy Inc. (TSX.V: AEC; OTCQB: ANLDF; FRANKFURT: 0AD) (“Anfield” or “the Company”) announces that it has submitted both its listing application to the Nasdaq Stock Market LLC (“NASDAQ”) and the accompanying Form 20-F Registration Statement to the Securities Exchange Commission (“SEC”). This follows completion of key requirements related to the applications, including:
1) the issuance of the Company’s 2024 audited financial statements and completion of the review of the Company’s 2023 financial statements under US PCAOB standards;
2) shareholder approval for a consolidation (the “Consolidation”) of Anfield’s common shares; and
3) the completion of technical reports for the Company’s core projects – Velvet-Wood, Slick Rock and West Slope – in accordance with SEC Regulation S-K 1300.
Corey Dias, Anfield’s CEO commented: “We are very pleased to have submitted our US registration statement with the SEC alongside our application to list our shares on the NASDAQ. We look forward to advancing these items as quickly as possible through continuous engagement with both the SEC and NASDAQ. With all of Anfield’s assets located in the United States, and with the United States having the largest installed nuclear reactor base worldwide – but producing less than 1% of required uranium – we believe the Company is well positioned to attract additional US investor interest as a potential near-term uranium producer.”
“The Company is currently aligning the development timelines for its core uranium and vanadium mining projects – Slick Rock and Velvet-Wood – in order to have both ready for production prior to the restart of the Shootaring Canyon mill, one of only three licensed, permitted and constructed conventional uranium mills in the US. As a reminder, the combined 2023 Preliminary Economic Assessment (PEA) for Slick Rock and Velvet-Woods demonstrated a pre-tax NPV8% of US$238M and IRR of 40% assuming U3O8 and V2O5 prices of US$70/lb and US$12/lb, respectively.”
While the Company intends to pursue a listing on NASDAQ, completion of a listing is subject to regulatory approvals and the satisfaction of applicable listing requirements, and there can be no assurance that a listing will be completed.
Qualified Person Douglas L. Beahm, P.E., P.G., principal engineer at BRS Inc., is a Qualified Person as defined in NI 43-101 and has reviewed and approved the technical content of this news release.
Results of the PEA represent forward-looking information. This economic assessment is preliminary in nature and it includes inferred mineral resources that are considered too speculative, geologically, to have the economic considerations applied to them that would enable them to be categorized as mineral reserves. There is no certainty that the preliminary economic assessment will be realized. Mineral resources are not mineral reserves as they do not have demonstrated economic viability. For further information, readers are encouraged to review the PEA which is available on the corporate website for the Company (www.anfieldenergy.com) and under the SEDAR+ profile for the Company (www.sedarplus.ca).
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.
