CORPUS CHRISTI, Texas, Jan. 24, 2023 /PRNewswire/ – enCore Energy Corp. (“enCore” or the “Company“) (NYSE: EU) (TSXV: EU) today announced that it has filed a preliminary short form prospectus in connection with an overnight marketed offering (the “Offering”) of units (the “Units”) of the Company. The Offering will be conducted through a syndicate of underwriters led by Canaccord Genuity (collectively, the “Underwriters”).
Each Unit will consist of one common share in the capital of the Company (each a “Unit Share”) and one-half of one common share purchase warrant (each a “Warrant”). Each Warrant will entitle the holder thereof to purchase one common share of the Company (a “Warrant Share”).
The definitive size and pricing of the Offering, as well as the terms of the Warrants, will be determined in the context of the market at the time of entering into a definitive underwriting agreement between the Company and the Underwriters. The closing of the Offering will be subject to market and other customary conditions, including approvals of the TSX Venture Exchange and the NYSE American.
In addition, the Company has granted the Underwriters an option to purchase up to an additional 15% of the Units of the Offering on the same terms and conditions exercisable at any time, in whole or in part, until 30 days following the closing of the Offering, for market stabilization purposes and to cover over-allotments, if any.
The Company expects to use the net proceeds from the Offering to maintain and advance the Company’s material properties, acquire properties, plant upgrades, drilling, maintenance and refurbishment, community outreach and communications, licensing and permitting and for general corporate and working capital purposes in the manner as set forth in the preliminary short form prospectus. In addition, if the