TSX.V: EU
OTCQX:ENCUF
www.encoreenergycorp.com
VANCOUVER, BC, April 6, 2021 /CNW/ - enCore Energy Corp.
(TSXV: EU) (OTCQX: ENCUF) (the "Company") announces the
company has executed an agreement to purchase 200,000 pounds of
uranium concentrate for a purchase price of $29.65 per pound U3O8.
This spot market purchase, made in mid-March, will be
delivered into the Company's account in mid-April. The
Company utilized existing funds for this purchase. This
initial purchase was made to de-risk future uranium deliveries
associated with anticipated contractual production timelines from
its planned ISR operations. The purchase strengthens the
Company's working capital and provides optionality in support of
future capital development of its South
Texas assets.
Paul Goranson, CEO stated:
"enCore Energy is focused on executing and expanding upon our
physical uranium supply. This strategy supports our
objectives to strengthen our balance sheet as uranium prices
appreciate while providing inventory to support future marketing
efforts which complement production with utility companies, the key
purchasers in the future. enCore Energy's remaining treasury is
strong and targeted for the implementation of our uranium asset
strategy focused on domestic In-Situ Recovery production
opportunities in the southwest United States."
About enCore Energy Corp.
enCore Energy Corp. is a
U.S. domestic uranium developer focused on becoming a leading
in-situ recovery (ISR) uranium producer. The Company is led by a
team of industry experts with extensive knowledge and experience in
the development and operations of in situ recovery uranium
operations. enCore Energy's opportunities are created from the
Company's transformational acquisition of its two South Texas production facilities, the
changing global uranium supply/demand outlook and opportunities for
industry consolidation. These short-term opportunities are
augmented by our strong long term commitment to working with local
indigenous communities in New
Mexico where the company holds significant uranium
resources.
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SOURCE enCore Energy Corp.