Anfield completes acquisition of Neutron Energy

Anfield Energy announce, further to its news release of June 6, that it has completed the acquisition of Neutron Energy, a wholly-owned subsidiary of enCore Energy, which holds the Marquez-Juan Tafoya uranium project located in the Grants Uranium Mineral District, 50 miles west-northwest of Albuquerque, New Mexico. As consideration for the acquisition of Neutron, the Company has issued 185,000,000 common shares to enCore and has agreed to pay C$5,000,000 in cash. Pursuant to an agreement reached with enCore, C$4,000,000 of the Consideration Payment was made at closing, with the balance due and owing on or before September 25, 2023. The Company has also granted enCore the right to nominate one director to the board of the Company, to serve so long as enCore continues to hold at least 10% of the outstanding shares of the Company. During this time, enCore has agreed to vote the Consideration Shares in support of any decisions made by management of the Company. Eugene Spiering has been appointed to the board of directors of the Company as the initial nominee of enCore. The Company is at arms-length from enCore and Neutron. The Consideration Shares are subject to statutory restrictions on resale until November 20, 2023 in accordance with applicable securities laws. No finders’ fees or commissions are owing by the Company in connection with the Transaction.