Uranium Energy Corp (UEC), a company listed on the NYSE American specialising in the production and management of uranium assets, announced the acquisition of 170 million common shares of the Canadian company Anfield Energy Inc. via private agreement. The transaction, completed at CAD0.115 ($0.087) per share, represents a total investment of CAD19.55mn ($14.82mn). Following this acquisition, UEC controls approximately 32.4% of Anfield Energy Inc.’s outstanding shares, undiluted, according to the figures released by the company.
Increased stake in Anfield Energy Inc.
Prior to this investment, UEC held 203.4 million common shares of Anfield, representing 17.6% of the Canadian company’s undiluted share capital. It also owned 96.27 million warrants enabling it to acquire additional shares at an exercise price of CAD0.18 ($0.136) each until May 12, 2027. Taking these warrants into account, the diluted holding of the US company already represented 24% of Anfield Energy’s shares.
Now, following this latest transaction, UEC’s holding reaches approximately 37.6% on a partially diluted basis, significantly expanding its position in Anfield Energy’s share capital. This acquisition aligns with the Texas-based company’s strategy to grow and diversify its uranium assets.
Regulatory framework and conditions of acquisition
The transaction was conducted in compliance with the “private agreement” exemption outlined in section 4.2 of Canada’s National Instrument 62-104 (Take-Over Bids and Issuer Bids). This regulation allows such transactions provided the acquisition involves no more than five sellers in total and the price paid does not exceed 115% of the market value at the time of the transaction. All these conditions were rigorously observed, according to information provided by UEC.
An “early warning report” has been filed on the Canadian regulatory platform SEDAR+, in compliance with transparency requirements set by National Instrument 62-103 (The Early Warning System and Related Take-Over Bid and Insider Reporting Requirements). This report details the precise financial and legal terms of the shareholding acquisition.
Future outlook and investment strategy
Uranium Energy Corp stated in its official release that the investment was purely strategic, and the company will continue to closely monitor the financial situation, business prospects, and potential capital needs of Anfield Energy. Depending on these factors, UEC might consider adjusting its participation, either increasing or decreasing, in the coming months or years.
Uranium Energy Corp’s head office is located in Corpus Christi, Texas, while Anfield Energy Inc. is headquartered in Burnaby, British Columbia.
