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Anfield Resources (TSXV:ARY,OTCQB:ANLDF) has signed a term sheet for a credit facility with a US Lender. The facility represents the final obligation needed to complete a transaction with Uranium One Americas earlier this year.
As quoted in the press release:
The Facility, pending due diligence, is intended to allow Anfield to meet all of its financial obligations required to close the transaction provided for under the asset purchase agreement with Uranium One Americas (“Uranium One”) announced on August 18, 2014. These obligations include obtaining replacement letters of credit sufficient to replace Uranium One’s existing surety bonds on the Shootaring Canyon uranium mill and associated assets.
Anfield CEO, Corey Dias, said:
We are thrilled to be taking another critical step towards the closing of the Uranium One transaction. Following both conditional approval for the transaction from the TSX Venture and conditional approval from the Utah Department of Radiation Control for the transfer of Shootaring Canyon mill’s radioactive materials license to Anfield, the replacement of the surety bonds is the biggest remaining hurdle to closing the transaction. Moreover, not only would the credit facility allow us to meet our financial obligations with regard to the transaction, but it would also allow us to do so without any equity dilution to existing shareholders.
Click here to read the Anfield Resources (TSXV:ARY) press release
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