Anfield Announces $500,000 Loan from Kestrel Holdings Ltd.
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Feb 24, 2016) - Anfield Nickel Corp. ("Anfield") (TSX VENTURE:ANF) announces that it has received a loan of Cdn $500,000 from Kestrel Holdings Ltd. ("Kestrel"), a company wholly owned by Ross J. Beaty. The loan accrues interest at a rate of 12% per annum, and is compounded yearly and not in advance. The loan is repayable on or before the earlier of June 30, 2016, or two business days after the date on which Anfield undertakes any equity financing by way of private placement of shares. The loan cannot be converted into, exchanged for or otherwise modified to create any obligation on Anfield to issue, directly or indirectly, any equity or voting securities of Anfield or any subsidiary of Anfield, including with respect to the repayment of either principal or interest accruing in respect of the loan. The loan will be used to fund Anfield's subscription for a $500,000 secured convertible debenture from Magellan Minerals Ltd. (as announced on February 16, 2016). As the loan is not convertible into equity or voting securities of Anfield, there will be no effect on the percentage of securities of Anfield held by Kestrel or Ross J. Beaty as a result of the loan.
Anfield Nickel Corp.
Marshall Koval, President & CEO
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