Anfield Energy Inc. amended a credit facility with Extract Advisors LLC to consent to an acquisition, agreeing to issue 50,000 bonus shares and 180,085 warrants as consideration.
Key takeaways
Extract Advisors consented to Anfield's proposed acquisition of B.R.S. Inc., removing a potential blocker to the transaction.
Anfield will issue 50,000 bonus common shares and 180,085 bonus warrants to Extract as consideration for the consent.
Bonus warrants carry an exercise price of C$8.11 per share and expire on September 26, 2028.
Proceeds from warrant exercises must be used to repay the principal of the Credit Facility while it remains outstanding.
The securities issuance and consent are conditional upon approval from the TSX Venture Exchange.