American Energy Fields Raises Over $18 Million in Private Placement

American Energy Fields, Inc. (OTCBB:AEFI) reports that it has completed its private placement offering of total gross proceeds of approximately $18 million.

The press release is quoted as saying:

The net proceeds of the Offering will be used for acquisitions of properties fitting our Company profile, feasability studies, advancement in our exploration and development projects, including the Coso property in Inyo County, California, the Blythe project in the southern McCoy Mountains in Riverside County, California, and Artillery Peak in Mohave County, Arizona.

American Energy Field’s President and CEO, Joshua Bleak says:

“We are pleased to complete this Offering, which will strengthen our Company by providing it with capital to implement our business plan in line with both our geographic focus in America’s mineral-rich southwest mountain regions, and our commitment to pursuing near-term, low-cost production of uranium. In addition to this capital raise, we have gained worldwide investors that distinguish us from our competitors in this sector.”

Click here to access the entire news release.

Click here to access American Energy Fields’ company profile.