/NOT FOR DISTRIBUTION IN THE UNITED STATES/
NASDAQ:EU
TSXV:EU
www.encoreuranium.com
DALLAS, Nov. 25,
2024 /CNW/ - enCore Energy Corp.
(NASDAQ: EU) (TSXV: EU) (the "Company" or
"enCore"), reports today the acquisition of 5,200,000 Units
of Nuclear Fuels Inc. (CSE: NF) (OTCQX: NFUNF) ("Nuclear Fuels") at
a price of $0.40 per Unit for the
aggregate purchase price of $2,080,000 pursuant to a 'bought deal' private
placement as previously announced (NF NR dated November 5/24) and
completed by Nuclear Fuels on November 20,
2024 (the "Offering"). Following the Offering, enCore now
holds 16,690,543 common shares of Nuclear Fuels representing
approximately 17.05% of the issued and outstanding common shares of
Nuclear Fuels on an undiluted basis, and up to 19.9% on a partially
diluted basis including shares underlying warrants available for
exercise.
enCore acquired the securities of Nuclear Fuels for investment
purposes, and may, depending on market and other conditions,
increase or decrease its beneficial ownership of Nuclear Fuels'
securities, whether in the open market, by privately negotiated
agreements or otherwise, subject to a number of factors, including
general market conditions and other available investment and
business opportunities.
The disclosure respecting enCore's security holdings of Nuclear
Fuels contained in this press release is made pursuant to National
Instrument 62-103 - The Early Warning System and Related
Take-Over Bid and Insider Reporting Issues and National
Instrument 62-104 - Take-Over Bids and Issuer Bids, and a
report respecting the above acquisition will be filed with the
applicable securities regulatory authorities and will be available
for viewing under enCore and Nuclear Fuels' profiles on the SEDAR+
website at www.sedarplus.ca.
About enCore Energy Corp.
enCore Energy Corp., America's Clean Energy Company™, is
committed to providing clean, reliable, and affordable fuel for
nuclear energy as the only United
States uranium company with multiple Central Processing
Plants in operation. The enCore team is led by industry experts
with extensive knowledge and experience in all aspects of In-Situ
Recovery ("ISR") uranium operations and the nuclear fuel cycle.
enCore solely utilizes ISR for uranium extraction, a well-known and
proven technology co-developed by the leaders at enCore Energy.
Following upon enCore's demonstrated success in South Texas, future projects in the production
pipeline include the Dewey-Burdock project in South Dakota and the Gas Hills project in
Wyoming. The Company holds other assets including non-core
assets and proprietary databases. enCore is committed to working
with local communities and indigenous governments to create
positive impact from corporate developments.
Cautionary Note Regarding Forward Looking
Statements:
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in policies of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of
this release.
Certain information contained in this news release,
including: any information relating to the Company being a leading
uranium company, statements regarding future or potential
production, statements regarding the Company's anticipated increase
in revenue from Alta Mesa
production, statements regarding the Company's projected
cost/revenue ratio, statements regarding future plant feed
development for Rosita, future nuclear industry outlook, and any
other statements regarding future expectations, beliefs, goals or
prospects; may constitute "forward-looking information" and
"forward-looking statements" within the meaning of applicable
Canadian and United States
securities laws and regulations (collectively, "forward-looking
statements"). All statements in this news release that
are not statements of historical fact (including statements
containing the words "expects", "is expected", "does not expect",
"plans", "anticipates", "does not anticipate", "believes",
"intends", "estimates", "projects", "potential", "scheduled",
"forecast", "budget" and similar expressions or variations
(including negative variations) of such words and phrases, or
statements that certain actions, events or results "may", "could",
"would", "might" or "will" be taken) should be considered
forward-looking statements. All such forward-looking statements are
subject to important risk factors and uncertainties, many of which
are beyond the Company's ability to control or predict.
Forward-looking statements necessarily involve known and unknown
risks, including, without limitation, risks associated with general
economic conditions; adverse industry events; future legislative
and regulatory developments; the ability of enCore to implement its
business strategies; including achieving expected levels of
production at Rosita and Alta Mesa in the planned time frame or at
all; and other risks. A number of important factors could cause
actual results or events to differ materially from those indicated
or implied by such forward-looking statements, including without
limitation exploration and development risks, changes in commodity
prices, access to skilled mining personnel, the results of
exploration and development activities; production risks; uninsured
risks; regulatory risks; defects in title; the availability of
materials and equipment, timeliness of government approvals and
unanticipated environmental impacts on operations; litigation
risks; risks posed by the economic and political environments in
which the Company operates and intends to operate; increased
competition; assumptions regarding market trends and the expected
demand and desires for the Company's products and proposed
products; reliance on industry equipment manufacturers, suppliers
and others; the failure to adequately protect intellectual
property; the failure to adequately manage future growth; adverse
market conditions, the failure to satisfy ongoing regulatory
requirements and factors relating to forward looking statements
listed above which include risks as disclosed in the Company's
annual information form filings. Should one or more of these risks
materialize, or should assumptions underlying the forward-looking
statements prove incorrect, actual results may vary materially from
those described herein as intended, planned, anticipated, believed,
estimated or expected. The Company assumes no obligation to update
the information in this communication, except as required by law.
Additional information identifying risks and uncertainties is
contained in filings by the Company with the various securities
commissions which are available online at www.sec.gov and
www.sedarplus.ca. Forward-looking statements are provided for the
purpose of providing information about the current expectations,
beliefs and plans of management. Such statements may not be
appropriate for other purposes and readers should not place undue
reliance on these forward-looking statements, that speak only as of
the date hereof, as there can be no assurance that the plans,
intentions or expectations upon which they are based will occur.
Such information, although considered reasonable by management at
the time of preparation, may prove to be incorrect and actual
results may differ materially from those anticipated.
Forward-looking statements contained in this news release are
expressly qualified by this cautionary statement.
SOURCE enCore Energy Corp.