October 2, 2024 (Globalinvestorideas.com Newswire) Globalinvestorideas.com, a go-to platform for big investing ideas for traders, including mining stocks reports on trading for Anfield Energy Inc. (TSXV: AEC) (OTCQB: ANLDF) (FRANKFURT: 0AD), a uranium and vanadium development and near-term production company.
Anfield makes the TSX Venture top percentage gainer list on acquisition news today. The stock is currently trading at 0.0900, up 0.0200, gaining 28.5714% on volume of over 5.8 Million shares, also making it the volume leader on the TSXV as of this report.
Today IsoEnergy Ltd. (TSX: ISO) (OTCQX: ISENF) and Anfield Energy Inc. (TSXV: AEC) (OTCQB: ANLDF) (FRANKFURT: 0AD) announced that they have entered into a definitive agreement (the “Arrangement Agreement”) pursuant to which IsoEnergy will acquire all of the issued and outstanding common shares of Anfield (the “Anfield Shares”) by way of a court-approved plan of arrangement (the “Transaction”). Anfield owns 100% of the Shootaring Canyon Mill (the “Mill”) located in southeastern Utah, United States, one of only three licensed, permitted, and constructed conventional uranium mills in the United States, as well as a portfolio of conventional uranium and vanadium projects in Utah, Colorado, New Mexico, and Arizona (Figure 1).
Under the terms of the Transaction, Anfield shareholders will receive 0.031 of a common share of IsoEnergy (each whole share, an “ISO Share”) for each Anfield Share held (the “Exchange Ratio”). Existing shareholders of IsoEnergy and Anfield will own approximately 83.8% and 16.2% on a fully-diluted in the-money basis, respectively, of the outstanding ISO Shares on closing of the Transaction.
The Exchange Ratio implies consideration of $0.103 per Anfield Share, based on the closing price of the ISO Shares over all Canadian exchanges on October 1, 2024. Based on each company’s 20-day volume weighted average trading price over all Canadian exchanges for the period ending October 1, 2024, the Exchange Ratio implies a premium of 32.1% to the Anfield Share price. The implied fully-diluted in the-money equity value of the Transaction is equal to approximately $126.8 million.
Recent news release
https://ca.finance.yahoo.com/news/isoenergy-announces-acquisition-anfield-securing-103000243.html
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