enCore Energy Provides Q1/24 ATM Sales Update; Suspends ATM Program
enCore Energy Provides Q1/24 ATM Sales Update; Suspends
ATM Program
NASDAQ:EU
TSXV:EU
www.encoreuranium.com
DALLAS
,
April 4, 2024
/CNW/ -
enCore Energy Corp.
("
enCore
" or the "
Company
") (NASDAQ: EU) (TSXV: EU), a domestic
uranium producer, announced today as required by the TSXV, that the Company issued a total of 495,765 common shares, between
the period
January 1, 2024
to
March 31, 2024
, under the at-the-market controlled equity offering program ("
ATM Program
"). The
shares were issued through the facilities of the TSXV and NASDAQ at an average share price of
US$4.05
per share for gross
proceeds of
US$2,008,256.36
with a commission of
US$50,206.42
paid to the Agent. The last settlement date was
January 16,
2024
.
The Company also advises it has suspended its ATM Program with a remaining balance of approximately
US$18.7 million
of common
shares available for sale. The Company does not anticipate further sales under the ATM program in light of its current cash on hand
of approximately
US$80 million
, zero debt, revenue from ongoing operations at the Rosita In-Situ Recovery Uranium Central
Processing Plant ("CPP") and expected near term production revenue from the Alta Mesa CPP.
About enCore Energy Corp.
enCore Energy Corp., America's Clean Energy Company™, is committed to providing clean, reliable, and affordable domestic
nuclear energy as the newest uranium producer in
the United States
. Uranium production commenced at enCore's licensed and past-
producing South Texas Rosita Central In-Situ Recovery ("ISR") Uranium Processing Plant ("CPP") in
November 2023
with work
underway for a planned 2024 restart of uranium production at its licensed and past-producing South Texas Alta Mesa CPP. 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. enCore solely utilizes ISR for uranium extraction, a well-known and proven technology co-developed by the leaders
at enCore Energy. In-Situ Recovery extracts uranium in a wellfield using natural groundwater and oxygen, coupled with a proven ion
exchange process, to recover the uranium.
Future projects in enCore's production pipeline include the Dewey-Burdock project in
South Dakota
and the Gas Hills project in
Wyoming
, along with significant uranium resource endowments in
New Mexico
providing long term opportunities. enCore diligently
works to realize value from other owned assets, including our proprietary uranium database that includes technical information from
many past producing companies, from our various non-core assets, and by leveraging our ISR expertise in researching opportunities
that support the use of this technology as applied to other metals. enCore is also committed to working with local communities and
indigenous governments to create positive impact from corporate developments.
@enCoreEnergy_EU
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 statements regarding future or potential production at the Alta Mesa
and pipeline projects, the technical merits of ISR and ion exchange process for uranium extraction and recovery, 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. Forward-looking statements necessarily involve known and unknown
risks, including, without limitation, risks associated with the demand for uranium, adverse industry events, future legislative and
regulatory developments, the ability of enCore to implement its business strategies including commencement of production at Alta
Mesa in the planned time frames or at all; the expansion of operations to satellite locations, and other risks. Forward-looking
statements are provided for the purpose of providing information about the current expectations, beliefs and plans of management.
Although considered reasonable by management at the time of preparation, a number of important factors could cause actual
results or events to differ materially from those indicated or implied by such forward-looking statements. 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.sedar.com
.
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SOURCE
enCore Energy Corp.
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%SEDAR: 00029787E
For further information:
please contact: William M. Sheriff, Executive Chairman, 972-333-2214, [email protected],
www.encoreuranium.com
CO: enCore Energy Corp.
CNW 07:00e 04-APR-24