Anfield Energy Inc. (TSXV:AEC) entered into a definitive share purchase agreement to acquire Neutron Energy, Inc. from enCore Energy Corp. (TSXV:EU) for CAD 16.1 million on June 5, 2023. As consideration enCore will receive 185 million common shares of the Anfield Energy Inc. and CAD 5 million in cash.

Through the acquisition of Neutron Energy, Anfield Energy will acquire a 100% interest in the Marquez-Juan Tafoya uranium project. Anfield Energy Inc. has also agreed to grant enCore the right to nominate one Director to the board of directors of the Anfield Energy Inc., to serve as long as enCore continues to hold at least 10% of the outstanding shares of the Anfield Energy Inc. Completion of the acquisition of Neutron, and the issuance of the Consideration Shares, remains subject to the approval of the TSX Venture Exchange. Closing of the Transaction is anticipated to take place on or before July 21, 2023.

Red Cloud Securities Inc. acted as financial advisor to Red Cloud Securities, Inc.