ENCORE BEGINS TRADING ON CONSOLIDATED BASIS UNDER THE SYMBOL OF "ENCUD" ON THE OTC MARKET; TSX.V SYMBOL REMAINS UNCHANGED AS "EU"

Rhea-AI Summary

enCore Energy Corp. announced today that its shares began trading on a consolidated basis of one new share for every three former shares, effective September 14, 2022. This consolidation is part of the company's application to uplist its shares to the NASDAQ market. The consolidated shares will continue to trade on the TSX.V under the symbol 'EU' and on the OTC market under 'ENCUD'. enCore is focused on uranium production, aiming to utilize its South Texas Rosita Processing Plant by 2023, with future projects in South Dakota, Wyoming, and New Mexico.

Positive

• Shares consolidated at a ratio of 1 new share for every 3 former shares.
• Company is moving forward with a NASDAQ uplisting application.
• Potential production from South Texas Rosita Processing Plant by 2023.

Negative

• None.

TSX.V: EU
OTCQB:ENCUD
www.encoreuranium.com 

CORPUS CHRISTI, Texas, Sept. 14, 2022 /PRNewswire/ - enCore Energy Corp. ("enCore" or the "Company") (TSXV: EU) (OTCQB: ENCUD) announces  that, as disclosed in the Company's news release of September 12, 2022, the Company's shares commenced trading today on a consolidated basis of one new share for every three former shares in connection with the Company's application to uplist their shares to the NASDAQ market. The consolidated shares remain trading on the TSX.V under the symbol 'EU' with consolidated shares trading on the OTC market now trading under the symbol 'ENCUD'.

About enCore Energy Corp.

With approximately 90 million pounds of U₃O₈ estimated in the measured and indicated categories and 9 million pounds of U₃O₈ estimated in the inferred category¹, 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. enCore is committed to engaging and working with local communities and indigenous governments to create positive impact from corporate developments.

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.

CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS: Certain information in this news release constitutes forward-looking statements under applicable securities laws. Any statements that are contained in this news release that are not statements of historical fact may be deemed to be forward-looking statements. Forward-looking statements are often identified by terms such as "may", "should", "anticipate", "expect", "potential", "believe", "intend" or the negative of these terms and similar expressions. Forward-looking statements in this news release include, but are not limited to, statements relating to the prospects of listing on the Nasdaq and associated benefits. Forward-looking statements necessarily involve known and unknown risks, including, without limitation, risks associated with the completion of the Nasdaq listing process and meeting related listing requirements, in addition to risks related to the advancement of our business, including general economic conditions; adverse industry events; future legislative and regulatory developments; inability to access additional capital; the ability of enCore to implement its business strategies; and other risks. Readers are cautioned not to place undue reliance on forward-looking statements as there can be no assurance that the plans, intentions or expectations upon which they are placed will occur. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement.

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SOURCE enCore Energy Corp.

FAQ

What is the recent update on enCore Energy Corp. shares trading?

enCore Energy Corp. shares began trading on a consolidated basis on September 14, 2022, at a ratio of one new share for every three former shares.

What is the new OTC symbol for enCore Energy Corp. after consolidation?

The new OTC symbol for enCore Energy Corp. is 'ENCUD'.

When is enCore Energy Corp. expected to start production from the South Texas Rosita Processing Plant?

enCore Energy Corp. is focused on starting production from the South Texas Rosita Processing Plant by 2023.