enCore Energy Corp. (NASDAQ: EU) (TSXV: EU), reports today the acquisition of 5,200,000 Units of Nuclear Fuels Inc. (CSE: NF) (OTCQX: NFUNF) 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. 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.
