Encore Energy Issues Early Warning Report; Acquires Shares of Future Fuel Corporation
ENCORE ENERGY ISSUES EARLY WARNING
REPORT; ACQUIRES SHARES OF FUTURE
FUEL CORPORATION
TSX.V: EU
OTCQB: ENCUF
www.encoreuranium.com
CORPUS CHRISTI, Texas
,
May 25, 2022
/CNW/ -
enCore Energy Corp.
("
enCore
" or the
"
Company
") (TSXV: EU) (OTCQB: ENCUF) announced today the Company has acquired
11,308,250 common shares (the "
Shares
") of Future Fuel Corporation (formerly Evolving Gold
Corp.) ("
Future Fuel
") on
May 24, 2022
. The Shares were issued to enCore in connection with a
definitive share purchase agreement (the "
Agreement
"), related to a property transaction whereby
Future Fuel acquired the Company's interest in the Ceboletta project located in
New Mexico
.
As a former shareholder of ECC, the Company acquired the Shares in exchange for the common
shares of ECC previously held by the Company. As result of the foregoing Transaction, enCore
owns and/or has control over 11,308,250 common shares of Future Fuel and its ownership of the
issued and outstanding common shares of Future Fuel increased from nil% to 15.90% on an
undiluted basis.
The Company may, depending on market and other conditions, increase or decrease its beneficial
ownership of the Future Fuel's 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 Shares were issued within the Agreement dated
April 14, 2022
among Future Fuel, Elephant
Capital Corp. ("ECC"), and the former shareholders of ECC pursuant to which Future Fuel
purchased all the issued and outstanding shares in the capital of ECC from the former shareholders
of ECC in exchange for an equivalent number of common shares of Future Fuel (the "
Transaction
").
The disclosure respecting the Company's shareholdings of Future Fuel contained in this press
release is made pursuant to Multilateral Instrument 62-103 and a report respecting the above
acquisition will be filed with the applicable securities commissions using the Canadian System for
Electronic Document Analysis and Retrieval (SEDAR) and will be available for viewing at
www.sedar.com
.
About enCore
With approximately 90 million pounds of U3O8 estimated in the measured and indicated categories
and 9 million pounds of U3O8 estimated in the inferred category
1
, enCore is the most diversified in-
situ recovery uranium development company in
the United States
. enCore is focused on becoming
the next uranium producer from its licensed and past-producing South Texas Rosita Processing Plant
by 2023. The
South Dakota
-based
Dewey Burdock
project and the Wyoming Gas Hills project offer
mid-term production opportunities with significant
New Mexico
uranium resource endowments
providing long-term opportunities. The enCore team is led by industry experts with extensive
knowledge and experience in all aspects of ISR uranium operations and the nuclear fuel cycle.
For more information, visit
www.encoreuranium.com.
1
Mineral resource estimates are based on technical reports prepared in accordance with NI43-101 and available on SEDAR as well as company websites at
www.encoreuranium.com.
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS
THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS
RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
SOURCE
enCore Energy Corp.
View original content to download multimedia:
http://www.newswire.ca/en/releases/archive/May2022/25/c9457.html
%SEDAR: 00029787E
For further information:
William M. Sheriff Executive Chairman 972-333-2214,
[email protected] www.encoreuranium.com
CO: enCore Energy Corp.
CNW 07:00e 25-MAY-22