ANFIELD NICKEL CORP. ("ANF")
BULLETIN TYPE: Property-Asset or Share Disposition Agreement
BULLETIN DATE: June 16, 2014
TSX Venture Tier 2 Company
The TSX Venture Exchange Inc. has accepted documentation in connection with a share purchase agreement between Anfield Nickel Corp. (?Anfield?) and Cunico Resources N.V. (?Cunico?) dated April 23, 2014 (the ?Agreement?). Under the Agreement Cunico will acquire Anfield?s Guatemalan subsidiary, Mayaniquel S.A., and its Mayaniquel nickel laterite project (the ?Transaction?). Under the Agreement, Cunico will acquire Mayaniquel S.A. for a purchase price dependent upon the prevailing nickel price five years from the closing date of the Transaction.
Payment will be made in five annual $3 million installments totalling $15 million (all dollar amounts are in US dollars unless otherwise stated) commencing on closing of the Transaction and a final payment of $28 million on the fifth anniversary of the closing date, subject to adjustment based on the following formula: (Year 5 average nickel price / $14,000 x $43 million) - $15 million.
If the fifth year average nickel price exceeds $30,000/tonne, a bonus adjustment of 15% will be added to the purchase price.The Exchange has been advised that the Transaction received the approval of the majority of shareholders of Anfield at a special and annual general meeting of shareholders held on June 12, 2014.
Insider / Pro Group Participation: Nil
For further information please see Anfield?s news release dated April 24, 2014 which is available under Anfield?s profile on SEDAR.
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