Shares of Anfield Energy Inc. (TSXV:AEC) experienced a significant increase of nearly 30% by midday on Wednesday following the announcement of its acquisition by IsoEnergy Ltd. (TSX:ISO).
IsoEnergy is set to acquire all issued and outstanding common shares of Anfield, including its complete ownership of the Shootaring Canyon Mill located in Utah. This particular mill holds valuable significance as one of only three licensed, permitted, and constructed conventional uranium mills in the United States, enhancing its worth in the current energy sector.
IsoEnergy Ltd. stock (TSX:ISO) began trading at C$3.25 per share, whereas Anfield Energy Inc. (TSXV:AEC) started at C$0.09 per share on the day of this development.
In a strategic move aimed at reinforcing its position in the uranium market, IsoEnergy’s acquisition of Anfield will potentially expand its operations. The Shootaring Canyon Mill, where a restart application has been submitted to the State of Utah, seeks to increase throughput and expand the licensed annual production capacity significantly.
Under the agreed-upon terms, Anfield shareholders will receive 0.031 of a common share of IsoEnergy for each Anfield share held. Post-transaction, existing shareholders of both IsoEnergy and Anfield will have ownership stakes of approximately 83.8% and 16.2%, respectively, based on fully diluted, in-the-money outstanding IsoEnergy shares.
Anfield’s diverse portfolio includes conventional uranium and vanadium projects across multiple states, including Utah, Colorado, New Mexico, and Arizona. On the other hand, IsoEnergy has established itself as a prominent uranium exploration and development company, focusing on high-grade uranium deposits and positioning itself as a key player in the nuclear energy sector, particularly in Saskatchewan’s Athabasca Basin.
Investors are encouraged to engage in discussions on this significant development by participating in IsoEnergy’s and Anfield Energy’s respective investor forums. It is essential to note that the information provided is for informative purposes only and should not be construed as investment advice. For the full disclaimer information, visit the provided link.
