On October 2, 2024, IsoEnergy Ltd. (TSX: ISO) entered into a definitive agreement to acquire Anfield Energy Inc. (TSXV: AEC) in a deal valued at approximately $126.8 million. Under the terms, Anfield shareholders will receive 0.031 IsoEnergy shares for each Anfield share, implying a 32.1% premium based on a 20-day volume-weighted average. IsoEnergy shareholders will hold 83.8% of the combined company, with Anfield shareholders owning 16.2%.

Anfield brings valuable assets, including the Shootaring Canyon Mill in Utah—one of only three licensed conventional uranium mills in the U.S.—and a portfolio of uranium and vanadium projects. The merger is expected to enhance near-term uranium production capacity, providing access to two uranium mills and significant operational synergies between U.S.-based mining assets.

The transaction received unanimous approval from both companies' boards, with Canaccord Genuity Corp. advising IsoEnergy and Cassels Brock & Blackwell LLP as legal counsel. Anfield was advised by Haywood Securities Inc. with legal support from DuMoulin Black LLP. Completion is subject to court, regulatory, and shareholder approvals, expected by Q4 2024.