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enCore Energy Corp. has successfully closed its acquisition of Azarga Uranium Corp., completing a strategic plan of arrangement. This deal consolidates an industry-leading pipeline of in-situ recovery (ISR) uranium projects, including two production licenses and substantial uranium resources totaling approximately 90 million pounds of U3O8. The acquisition enhances enCore's production capabilities, particularly in Texas and South Dakota, and is part of an aggressive M&A strategy to establish enCore as a leading U.S. ISR uranium producer.
enCore Energy Corp. (OTCQB: ENCUF) and Azarga Uranium Corp. (OTCQB: AZZUF) announced the approval of a plan of arrangement by the Supreme Court of British Columbia. This arrangement allows enCore to acquire all outstanding shares of Azarga. The closing is anticipated on December 31, 2021, pending customary closing conditions and final stock exchange approval. Both companies will retain their current management teams post-acquisition, which aims to consolidate assets and enhance growth opportunities in the uranium sector.
enCore Energy Corp. and Azarga Uranium Corp. have received final court approval from the Supreme Court of British Columbia for their plan of arrangement. This arrangement allows enCore to acquire all outstanding common shares of Azarga Uranium. The closing is anticipated by December 31, 2021, pending customary conditions and stock exchange approval. Both companies' management teams will remain unchanged post-transaction. Azarga controls ten uranium projects in the U.S., focusing on the Dewey Burdock Project, which is poised for development pending necessary regulatory approvals.
enCore Energy Corp. and Azarga Uranium Corp. have announced a significant uranium purchase agreement with a Fortune 150 U.S. utility, marking enCore's second such deal. This four-year agreement, starting in 2024, covers up to 1.3 million pounds of U3O8 at a ceiling price above the current uranium spot market price. Following Azarga's shareholder approval for the acquisition by enCore, regulatory approvals are anticipated by December 28, 2021.
enCore Energy Corp and Azarga Uranium Corp announced advancements in the modernization of the Rosita Central Processing Plant in South Texas, projected for completion in Q2/2022. The ongoing development drilling at the Rosita Extension has begun, with a focus on enhancing mineral interpretation for wellfield design, aiming for production activities to commence in 2023. The companies are also moving forward with a plan of arrangement following a 99% shareholder approval from Azarga, seeking necessary regulatory approvals to finalize the transaction.
Azarga Uranium Corp. has announced that 99.8% of its shareholders approved a Plan of Arrangement with enCore Energy Corp.. This transaction involves shareholders receiving 0.375 shares of enCore for each share of Azarga. The final court hearing is scheduled for November 19, 2021, and the completion of the arrangement is subject to regulatory approvals. The exchange ratio could be adjusted based on enCore's stock performance, but will not exceed 0.49 shares. The company operates multiple uranium projects in the USA, with a focus on in-situ recovery.
enCore Energy and Azarga Uranium announced an agreement for enCore to acquire all outstanding Azarga shares through a court-approved plan. Azarga shareholders will receive 0.375 enCore shares for each Azarga share, implying a value of $0.71 per Azarga share. The deal will create a leading American uranium in-situ recovery company with multiple projects in South Texas and South Dakota. A shareholder vote is scheduled for November 16, 2021, with a circular mailed by October 26. Closing is subject to regulatory approvals.
enCore Energy Corp. will acquire Azarga Uranium Corp. in a business arrangement designed to create a significant player in the American uranium in-situ recovery (ISR) sector. Azarga shareholders will receive 0.375 common shares of enCore for each Azarga share, translating to an implied value of $0.71 per share. A shareholder vote is scheduled for November 16, 2021, with the transaction subject to regulatory approval. The merger aims to combine assets and expertise to enhance development in South Texas and beyond.
On September 7, 2021, enCore Energy Corp. (ENCUF) announced a definitive agreement to acquire Azarga Uranium Corp. (AZZUF) through a court-approved plan of arrangement. This merger aims to create a leading American uranium in-situ recovery (ISR) company, consolidating a robust portfolio of exploration and development projects across the U.S., including the Rosita and Kingsville Dome facilities. Azarga shareholders will receive 0.375 enCore shares per Azarga share, valued at $0.71 based on enCore's recent closing price. The transaction is anticipated to close in November 2021, pending regulatory approvals.
Azarga Uranium Corp. has filed an independent technical report and preliminary economic assessment (PEA) for the Gas Hills In-situ Recovery Uranium Project in Wyoming. Key highlights include a pre-tax IRR of 116% and NPV of US$120.9 million. The project anticipates 6.5 million pounds of uranium production over 7 years, with steady annual production of 1 million pounds. Initial capital costs are estimated at US$26 million, while cash operating costs are projected at US$11.52 per pound produced.
