enCore Energy Corp. Announces Proposed $4.8 Million Private Placement Financing
TORONTO, Sept. 18, 2020 - enCore Energy Corp. (TSXV:EU) (“enCore Energy Corp.” or the “Company”) announces that it has engaged Clarus Securities Inc. and PowerOne Capital Markets Limited (the “Agents”) to act as co-lead agents to raise up to $4,800,000 through a private placement offering of up to 12,000,000 units of the Company (the “Units”) at a price of $0.40 per Unit (the “Offering”). Each Unit is comprised of one common share in the capital of the Company (“Common Share”) and one half of one Common Share purchase warrant (each whole warrant a “Warrant”). Each Warrant shall entitle the holder to purchase one Common Share at an exercise price of $0.60 for 36 months following the completion of the Offering, subject to acceleration of the expiry date to 30 calendar days upon notice provided to the warrant-holder by the Company, which may be provided at any time following the Company’s shares trading at no less than C$0.90 per share for 5 consecutive trading days on the TSX Venture Exchange.
The proceeds raised from the Offering will be used by the Company for exploration and development of the Company’s mineral properties and for general corporate purposes.
The Agents will have an option to purchase additional Units on the same terms of the Offering for aggregate proceeds representing 15% of the Offering, for market stabilization purposes and to cover over-allotments, exercisable within 30 days of the date of closing of the Offering.
The Offering is scheduled to close on or about October 8, 2020, and is subject to certain conditions including, but not limited to, the receipt of all necessary approvals of the TSX Venture Exchange.
The securities being offered have not, nor will they be registered under the United States Securities Act of 1933, as amended, and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons in the absence of U.S. registration or an applicable exemption from the U.S. registration requirements. This release does not constitute an offer for sale of securities in the United States.
ABOUT ENCORE ENERGY
enCore Energy Corp. is focused on working towards becoming a domestic United States uranium producer. With significant existing resources in the southwest United States and a binding letter of intent to acquire production facilities in Texas along with additional uranium resources in New Mexico, enCore will, upon completion of the Westwater transaction, hold the largest uranium position in the Grants Mineral Belt and licensed processing facilities in Texas.
For additional information:
William M. Sheriff
Executive Chairman
972-333-2214
info@encoreenergycorp.com
www.encoreenergycorp.com
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.
This news release contains "forward-looking information" which may include, but is not limited to, statements with respect to the future financial or operating performance of the Company and its projects. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", or "believes" or variations (including negative variations) of such words and phrases, or state that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved. Such statements include that the proposed financing will proceed or that the Company will complete the acquisition of additional assets, in either case as described herein. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Forward-looking statements contained herein are made as of the date of this press release and the Company disclaims any obligation to update any forward-looking statements, whether as a result of new information, future events or results or otherwise. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. The Company undertakes no obligation to update forward-looking statements if circumstances, management's estimates or opinions should change, except as required by securities legislation. Accordingly, the reader is cautioned not to place undue reliance on forward-looking statements.