Anfield Energy Inc. ownership disclosure: Extract Advisors LLC, Extract Capital Master Fund Ltd. and Darin Milmeister report beneficial ownership positions in the issuer. The filing lists Extract Advisors LLC with 1,275,271 shares (6.6%) and Extract Capital Master Fund Ltd. with 1,148,642 shares (6.0%), calculated using 18,184,976 shares outstanding as of March 31, 2026. The reported totals include shares that may be acquired through exercise of warrants within sixty (60) days, and the Reporting Persons disclaim beneficial ownership except to the extent of any pecuniary interest.
Positive
None.
Negative
None.
Insights
Disclosure clarifies voting and dispositive arrangements for a ~6% holder group.
The filing shows shared voting and shared dispositive power for the Reporting Persons rather than sole control, with 1,275,271 shares reported under shared power for the Adviser and Darin Milmeister. This signals ownership via managed vehicles and pooled arrangements.
Capital structure context is anchored to March 31, 2026 outstanding shares. Subsequent filings may clarify whether warrant exercises occur; timing and cash‑flow treatment for any exercises are not stated in the excerpt.
Position sizes are measurable but below typical control thresholds.
The Adviser and related entities are reported at 6.6% and 6.0% of the class using the issuer's reported outstanding share count of 18,184,976. These stakes are substantive for engagement but are not controlling.
Reported percentages include potential share issuances from warrants exercisable within sixty (60) days; the filing does not state whether those warrants will be exercised or how proceeds would be treated.
Key Figures
Extract Advisors shares:1,275,271 sharesExtract Capital Master Fund shares:1,148,642 sharesPercent of class (Adviser):6.6%+2 more
5 metrics
Extract Advisors shares1,275,271 sharesReported holding for Extract Advisors LLC
Extract Capital Master Fund shares1,148,642 sharesReported holding for Extract Capital Master Fund Ltd.
Percent of class (Adviser)6.6%Calculated using 18,184,976 shares outstanding as of March 31, 2026
Percent of class (Fund)6.0%Calculated using 18,184,976 shares outstanding as of March 31, 2026
Shares outstanding18,184,976 sharesIssuer's Form 40-F; as of March 31, 2026
Key Terms
beneficially owned, shared dispositive power, warrants exercisable within sixty (60) days, Form 40-F, +1 more
5 terms
beneficially ownedregulatory
"The common shares (the "Shares") reported herein ... include"
Beneficially owned describes securities or assets where a person has the economic rights and control—such as the right to receive dividends and to direct voting—even if legal title is held in another name. Think of it like having the keys and using a car that’s registered to someone else: you get the benefits and make decisions. Investors care because beneficial ownership reveals who truly controls value and voting power, affecting corporate decisions and takeover dynamics.
shared dispositive powerregulatory
"Shared Dispositive Power 1,275,271.00"
warrants exercisable within sixty (60) daysfinancial
"approximate number of Shares which may be acquired through the exercise of warrants within sixty (60) days"
Form 40-Fregulatory
"statement in the Issuer's Form 40-F filed on March 31, 2026"
A Form 40-F is a standardized annual filing used by certain Canadian companies that trade in U.S. markets to give U.S. regulators and investors the same core financial statements and key disclosures they file in Canada. Think of it as a translated, formally packaged annual report that lets investors in a different marketplace compare a company’s results, governance and risks more easily, which reduces uncertainty and helps investment decisions.
Section 13 of the Securities Exchange Actregulatory
"shall not be deemed an admission that the Reporting Persons are beneficial owners ... for purposes of Section 13"
What stake does Extract Advisors LLC report in Anfield Energy (AEC)?
Extract Advisors LLC reports beneficial ownership of 1,275,271 shares (6.6%). The figure is calculated using 18,184,976 shares outstanding as of March 31, 2026 and includes shares potentially issuable upon warrant exercise within sixty (60) days.
How many shares does Extract Capital Master Fund Ltd. report for AEC?
Extract Capital Master Fund Ltd. reports 1,148,642 shares (6.0%). The reported percentage uses the issuer's stated outstanding share count as of March 31, 2026 and may include shares linked to exercisable warrants.
Does Darin Milmeister personally own the reported shares in AEC?
Darin Milmeister is reported with 1,275,271 shares (6.6%) and is identified as the managing member of the Adviser. The filing disclaims beneficial ownership except to the extent of any pecuniary interest.
Are the reported amounts including potential warrant exercises?
Yes. The reported share amounts include approximate shares that may be acquired through the exercise of certain warrants within sixty (60) days. The filing does not state whether those warrants will be exercised.
What outstanding share count was used to calculate the percentages for AEC?
The percentages are based on 18,184,976 shares outstanding as of March 31, 2026, per the issuer's Form 40-F cited in the filing. That figure serves as the denominator for the reported percentages.
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
UNDER THE SECURITIES EXCHANGE ACT OF 1934
(Amendment No. 1)
Anfield Energy Inc.
(Name of Issuer)
Common Shares, no par value
(Title of Class of Securities)
03464C205
(CUSIP Number)
03/31/2026
(Date of Event Which Requires Filing of this Statement)
Check the appropriate box to designate the rule pursuant to which this Schedule is filed:
Rule 13d-1(b)
Rule 13d-1(c)
Rule 13d-1(d)
schemaVersion:
SCHEDULE 13G
CUSIP Number(s):
03464C205
1
Names of Reporting Persons
Extract Advisors LLC
2
Check the appropriate box if a member of a Group (see instructions)
(a)
(b)
3
Sec Use Only
4
Citizenship or Place of Organization
DELAWARE
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
0.00
6
Shared Voting Power
1,275,271.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
1,275,271.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
1,275,271.00
10
Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)
11
Percent of class represented by amount in row (9)
6.6 %
12
Type of Reporting Person (See Instructions)
IA, OO
Comment for Type of Reporting Person: Please see note in Item 4(a).
SCHEDULE 13G
CUSIP Number(s):
03464C205
1
Names of Reporting Persons
Extract Capital Master Fund Ltd.
2
Check the appropriate box if a member of a Group (see instructions)
(a)
(b)
3
Sec Use Only
4
Citizenship or Place of Organization
CAYMAN ISLANDS
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
0.00
6
Shared Voting Power
1,148,642.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
1,148,642.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
1,148,642.00
10
Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)
11
Percent of class represented by amount in row (9)
6.0 %
12
Type of Reporting Person (See Instructions)
PN
Comment for Type of Reporting Person: Please see note in Item 4(a).
SCHEDULE 13G
CUSIP Number(s):
03464C205
1
Names of Reporting Persons
Darin Milmeister
2
Check the appropriate box if a member of a Group (see instructions)
(a)
(b)
3
Sec Use Only
4
Citizenship or Place of Organization
UNITED STATES
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
0.00
6
Shared Voting Power
1,275,271.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
1,275,271.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
1,275,271.00
10
Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)
11
Percent of class represented by amount in row (9)
6.6 %
12
Type of Reporting Person (See Instructions)
HC, IN
Comment for Type of Reporting Person: Please see note in Item 4(a).
SCHEDULE 13G
Item 1.
(a)
Name of issuer:
Anfield Energy Inc.
(b)
Address of issuer's principal executive offices:
4390 GRANGE STREET #2005
Burnaby, British Columbia, Canada V5H 1P6
Item 2.
(a)
Name of person filing:
Extract Advisors LLC*
Extract Capital Master Fund Ltd.*
Darin Milmeister*
(b)
Address or principal business office or, if none, residence:
4500 Park Granada Unit 202, Calabasas, CA 91302
(c)
Citizenship:
Extract Advisors LLC - Delaware
Extract Capital Master Fund Ltd. - Cayman Islands
Darin Milmeister - United States
(d)
Title of class of securities:
Common Shares, no par value
(e)
CUSIP No.:
03464C205
Item 3.
If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)
Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)
Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)
Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)
Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)
An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)
An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)
A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)
A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)
A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)
A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J),
please specify the type of institution:
(k)
Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.
Ownership
(a)
Amount beneficially owned:
Extract Advisors LLC - 1,275,271*
Extract Capital Master Fund Ltd. - 1,148,642*
Darin Milmeister - 1,275,271*
*The common shares (the "Shares") reported herein for Anfield Energy Inc. (the "Issuer") include (i) Shares held by Extract Capital Master Fund Ltd. (the "Fund") as well as another pooled investment vehicle, which are both managed by Extract Advisors LLC (the "Adviser"); and (ii) the approximate number of Shares which may be acquired through the exercise of warrants within sixty (60) days. Darin Milmeister serves as the managing member of the Adviser (the "Managing Member," and collectively with the Adviser and the Fund, the "Reporting Persons"). As of the reporting date, the Fund held 1,148,642 Shares, and the Adviser held 1,275,271 Shares. The percentages reported herein are calculated based upon the statement in the Issuer's Form 40-F filed on March 31, 2026 that there were 18,184,976 Shares outstanding as of March 31, 2026, plus the approximate number of Shares the Adviser has the right to acquire through the exercise of certain of its warrants within sixty (60) days. This report shall not be deemed an admission that the Reporting Persons are beneficial owners of the Shares for purposes of Section 13 of the Securities Exchange Act of 1934, as amended, or for any other purpose. Each of the Reporting Persons herein disclaims beneficial ownership of the Shares reported herein except to the extent of the Reporting Person's pecuniary interest, if any, therein.
(b)
Percent of class:
Extract Advisors LLC - 6.6%*
Extract Capital Master Fund Ltd. - 6.0%*
Darin Milmeister - 6.6%*
(c)
Number of shares as to which the person has:
(i) Sole power to vote or to direct the vote:
Extract Advisors LLC - 0
Extract Capital Master Fund Ltd. - 0
Darin Milmeister - 0
(ii) Shared power to vote or to direct the vote:
Extract Advisors LLC - 1,275,271*
Extract Capital Master Fund Ltd. - 1,148,642*
Darin Milmeister - 1,275,271*
(iii) Sole power to dispose or to direct the disposition of:
Extract Advisors LLC - 0
Extract Capital Master Fund Ltd. - 0
Darin Milmeister - 0
(iv) Shared power to dispose or to direct the disposition of:
Extract Advisors LLC - 1,275,271*
Extract Capital Master Fund Ltd. - 1,148,642*
Darin Milmeister - 1,275,271*
Item 5.
Ownership of 5 Percent or Less of a Class.
Not Applicable
Item 6.
Ownership of more than 5 Percent on Behalf of Another Person.
Not Applicable
Item 7.
Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
Not Applicable
Item 8.
Identification and Classification of Members of the Group.
Not Applicable
Item 9.
Notice of Dissolution of Group.
Not Applicable
Item 10.
Certifications:
By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11.
SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.
