enCore Energy Announces Filing of Early Warning Report

Rhea-AI Summary

enCore Energy Corp. (NASDAQ: EU) has announced the sale of its entire stake in Anfield Energy Inc., disposing of 170,000,000 common shares at CAD $0.115 per share, generating total proceeds of CAD $19.55 million. The transaction was executed through a private agreement and represents a 14.73% reduction in enCore's ownership of Anfield's outstanding shares on an undiluted basis. Following this disposition, enCore no longer holds any securities in Anfield. This sale marks a significant decrease from enCore's previous holdings reported in January 2024, representing a 16.02% reduction in ownership of Anfield's outstanding shares. The company has indicated it may consider future investments in Anfield depending on market conditions and opportunities.

Positive

• Generated CAD $19.55 million in proceeds from the sale of Anfield shares
• Complete exit from investment position provides clean break and capital flexibility

Negative

• Significant reduction in ownership stake (14.73% decrease) could signal lack of confidence in Anfield's prospects

Insights

Financial Analyst

enCore Energy raises $19.55M CAD by selling entire Anfield stake, significantly bolstering its cash position for future operations.

enCore Energy has completely divested its stake in Anfield Energy, selling 170,000,000 common shares through a private transaction at $0.115 per share, generating $19.55 million in Canadian dollars. This represents a substantial liquidity event for the uranium company, as they've converted a significant equity position into immediate cash.

The transaction eliminated enCore's 14.73% ownership in Anfield's outstanding common shares. Since their previous early warning report from January 2024, enCore's position has decreased by approximately 16.02% of Anfield's outstanding shares on an undiluted basis.

What's particularly interesting is that despite the complete exit, enCore explicitly states they may increase their beneficial ownership in Anfield in the future depending on market conditions. This suggests the divestiture represents a tactical portfolio adjustment rather than a fundamental repositioning away from Anfield.

For enCore Energy shareholders, this transaction significantly strengthens the company's cash position, providing enhanced financial flexibility without taking on debt. While the press release doesn't specify the intended use of proceeds, the additional $19.55 million could fund operational expansion, resource development, or potentially other strategic acquisitions in the uranium sector.

NASDAQ:EU
TSXV:EU
www.encoreuranium.com 

DALLAS, June 20, 2025 /PRNewswire/ - enCore Energy Corp. (NASDAQ: EU) (TSXV: EU) (the "Company" or "enCore"), America's Clean Energy Company^™, announces that it has disposed of 170,000,000 common shares in the capital of Anfield Energy Inc. ("Anfield") (TSX.V: AEC; OTCQB: ANLDF; FRANKFURT: 0AD) in a private agreement at a price of $0.115 per share for aggregate proceeds of $19,550,000 (Canadian dollars).

Immediately following the disposition, enCore holds or controls no common shares of Anfield. The disposition represents a 14.73% decrease in enCore's ownership or control over the outstanding common shares of Anfield on an undiluted basis. enCore does not currently hold or control any securities of Anfield.

Since enCore's last early warning report dated January 15, 2024, enCore's holdings have decreased by an approximate 16.02% of the outstanding common shares of Anfield on an undiluted basis.

enCore disposed of the shares of Anfield in a private transaction. enCore may, depending on market and other conditions, increase beneficial ownership of the Company's 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 shareholdings contained in this news release is made pursuant to National Instrument 62-103 and a report respecting the above disposition will be filed with the applicable securities commissions and will be available for viewing at www.sedarplus.ca. A copy of the report may also be obtained by contacting Robert Willette, Acting Chief Executive Officer, or at info@encoreuranium.com.

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. enCore operates the 100% owned and operated Rosita CPP in South Texas and the 70/30 joint venture Alta Mesa CPP with Boss Energy Ltd., with enCore operating as the project manager.

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. Following upon enCore's demonstrated success in South Texas, future projects in enCore's planned project 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.

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.

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SOURCE enCore Energy Corp.

FAQ

How many Anfield Energy shares did enCore Energy (NASDAQ:EU) sell?

enCore Energy sold 170,000,000 common shares of Anfield Energy.

What was the price per share for enCore's sale of Anfield Energy stock?

The shares were sold at CAD $0.115 per share in a private agreement.

How much did enCore Energy (EU) receive from selling Anfield Energy shares?

enCore Energy received total proceeds of CAD $19.55 million from the sale.

Does enCore Energy (NASDAQ:EU) still own any shares of Anfield Energy?

No, following the disposition, enCore Energy no longer holds or controls any securities of Anfield Energy.

What was the percentage decrease in enCore's ownership of Anfield since January 2024?

enCore's holdings decreased by approximately 16.02% of Anfield's outstanding common shares since January 15, 2024.