enCore Energy Closes Oversubscribed Financing
May 13 2019 - 8:30AM
enCore Energy Corp. (TSX.V: EU) (the
"
Company") is pleased to announce the closing of a
private placement for gross proceeds totaling $2,679,881 comprised
of 17,865,878 units (the "
Units") at a price of
$0.15 per Unit. Each Unit consists of one common share (the
"
Shares") and one-half share purchase warrant (the
"
Warrants"). Each whole Warrant will entitle the
holder to purchase one additional Share at a price of $0.225 for a
period of three years from the date of issue of the Warrants. The
warrants may be accelerated under certain terms if the stock closes
for 15 trading days at $0.45 or more.The Company will pay finder's
fees equal to 5.5% of subscription amounts found, payable in cash
plus issue finder's warrants in an amount equal to 5.25% of units
purchased, with each such finder's warrant to be exercisable into
one common share of the Company at a price of $0.15 for three years
from closing. All securities issued will be subject to a
four-month hold period. PowerOne Capital Markets Limited acted as a
finder in connection with a portion of the private placement.
Proceeds from the financing will be applied to
the Company's property portfolio and general working capital.
The securities offered have not been registered
under the U.S. Securities Act of 1933, as amended, and may not be
offered or sold in the United States absent registration or an
applicable exemption from the registration requirements.
About enCore Energy Corp.enCore
Energy Corp., with assets based entirely in the United States, has
a 100% interest, with no holding costs, on 115,000+ acres (46,400
ha) of private mineral rights in New Mexico, including the
Crownpoint and Hosta Butte uranium deposits. These deposits contain
an Indicated Mineral Resource of 26.6 million pounds of U3O8 at an
average grade of 0.105% e U3O8(1). A portion of these resources are
under NRC license. The Company also holds the Marquez and Treeline
projects in New Mexico as well as other properties in Utah,
Arizona, and Wyoming. The Company owns or has access to an
extensive collection of proprietary North American and Global
uranium data including the Union Carbide, US Smelting and Refining,
UV Industries, Rancher’s Exploration databases in addition to a
leading geophysical data collection concerning the high-grade
Northern Arizona Strip district.
For additional information:
William M. SheriffExecutive
Chairman972-333-2214
info@encoreenergycorp.com www.encoreenergycorp.com
Neither 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 StatementsThis news release includes
certain forward-looking statements within the meaning of applicable
securities laws including the anticipated completion of the
transaction and acquisition of the Marquez, Nose Rock and other
properties, and the potential advancement thereof. Forward-looking
statements are statements that relate to future, not past, events.
In this context, forward-looking statements often address expected
future business and financial performance, and often contain words
such as "anticipate", "believe", "plan", "estimate", "expect", and
"intend", statements that an action or event "may", "might",
"could", "should", or "will" be taken or occur, or other similar
expressions. Estimates of mineral resources and reserves are also
forward-looking statements because they constitute projections
regarding the amount of minerals that may be encountered in the
future. All statements, other than statements of historical fact,
included herein including, without limitation; statements about the
terms and completion of the transaction are forward-looking
statements. By their nature, forward-looking statements involve
known and unknown risks, uncertainties and other factors, which may
cause the actual results, performance or achievements, or other
future events, to be materially different from any future results,
performance or achievements expressed or implied by such
forward-looking statements. Forward-looking statements are made
based on management's beliefs, estimates and opinions on the date
that statements are made and the respective companies undertakes no
obligation to update forward-looking statements if these beliefs,
estimates and opinions or other circumstances should change, except
as required by applicable securities laws. Investors are cautioned
against attributing undue certainty to forward-looking
statements.
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