Anfield Investor Sells 2.29 Million Shares
Anfield Energy Inc (C:AEC)
Shares Issued 94,652,826
Last Close 6/2/2020 $0.10
Wednesday June 3 2020 – News Release
An anonymous director reports
PALISADES GOLDCORP LTD. FILES EARLY WARNING REPORT IN RESPECT OF ANFIELD ENERGY INC.
Palisades Goldcorp Ltd. has filed an early warning report in respect of its security holdings in Anfield Energy Inc.
During the period April 22, 2020, to June 2, 2020, the Company disposed of a total of 2,296,500 Common shares of Anfield through the facilities of the TSX Venture Exchange at an average price of $0.10219 per share for aggregate gross proceeds of $234,683 (the “Disposition”). Immediately prior to the Disposition, the Company directly held 8,709,500 Common shares of Anfield then representing approximately 9.20% of the issued and outstanding Common shares of Anfield on an undiluted basis or approximately 5.60% on a fully diluted basis. Immediately following the Disposition, Palisades directly held 6,413,000 Common shares of Anfield represent approximately 6.78% of Anfield’s current issued and outstanding Common shares on an undiluted basis or approximately 3.92% on a fully diluted basis.
In addition, Palisades presently holds 8,000,000 Common share purchase warrants of Anfield (the “Warrants”). Each Warrant entitles Palisades to purchase one additional Common share of Anfield. An aggregate of (a) 1,250,000 Warrants expiring April 29, 2022, are exercisable at a price of $0.30; (b) 3,750,000 Warrants expiring May 3, 2022, are exercisable at a price of $0.30; and 3,000,000 Warrants expiring April 20, 2021, are exercisable at a price of $0.10. If all Warrants were exercised, the Company would hold 14,413,000 Common shares of Anfield representing approximately 14.04% of Anfield’s then issued and outstanding Common shares on an undiluted basis and approximately 8.80% on a then fully diluted basis.
The Company disposed of 2,296,500 Common shares of Anfield in order to monetize a portion of its investment in Anfield. The Company may, as future circumstances may dictate, from time to time, increase or decrease its ownership of Anfield’s securities, whether in transactions over the open market, by privately negotiated arrangements or otherwise, subject to a number of factors, including general market conditions and other available investment and business opportunities.
This press release is being issued in accordance with National Instrument 62-103 The Early Warning System and Related Take-Over Bid and Insider Reporting Issues in connection with the filing of an early warning report dated April 22, 2020. The early warning report has been filed on the System for Electronic Document Analysis and Review (SEDAR) under Anfield’s issuer profile at www.sedar.com. To obtain a copy of the early warning report filed by Palisades, please contact Collin Kettell at 301-744-8744 or via email to email@example.com or refer to SEDAR.
We seek Safe Harbor.
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