PETERSON MCVICAR ACTS FOR RED CLOUD IN AMERICAN FUTURE FUEL $3.4M PRIVATE PLACEMENT

On December 21, 2023 American Future Fuel Corporation (“American Future Fuel” or the “Company”) is
pleased to announce it has closed its brokered private placement (the “Offering”) in which it issued
12,777,777 units of the Company (“Units”) at a price of C$0.27 per Unit, for aggregate gross proceeds
$3,450,000, which reflects an exercise of the agent’s option in full. Red Cloud Securities Inc. (“Red Cloud”)
acted as agent and sole bookrunner under the Offering on behalf of a syndicate of agents that included
Canaccord Genuity Corp. (together with Red Cloud, the “Agents”).
Each Unit consists of one common share of the Company (each, a “Unit Share”) and one common share
purchase warrant (each, a “Warrant”). Each Warrant entitles the holder to purchase one common share of the
Company (each, a “Warrant Share”) at a price of C$0.42 at any time on or before that December 21, 2026.
In consideration for their services, the Agents received a cash commission of $179,000 and were issued an
aggregate of 662,963 compensation options, with each compensation option entitling the holder to purchase
one common share of the Company at a price of $0.27 per share until December 21, 2026.
American Future Fuel Corporation (CSE: AMPS, OTCQB: AFFCF, FWB: K14, WKN: A3DQFB) is a Canadian-based
resource company focused on the strategic acquisition, exploration and development of alternative energy
projects. The Company holds a 100% interest in the Cebolleta Uranium Project, located in Cibola County, New
Mexico, USA, and situated within the Grants Mineral Belt, a prolific mineral belt responsible for approximately
37% of all Uranium produced in the United States of America.

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