enCore Energy reaches settlement agreement with former CEO William Goranson

enCore Energy Corp. (NASDAQ:EU), a uranium company with a market capitalization of approximately $609 million, disclosed Friday that it has entered into a confidential settlement and general release agreement with its former Chief Executive Officer, William Paul Goranson. The agreement was executed on October 10 through a company subsidiary, according to a statement based on a recent SEC filing.

Under the terms of the agreement, enCore Energy will pay Mr. Goranson a total of $922,033.62 within 30 days of the agreement’s effective date. This amount includes a settlement payment, attorneys’ fees, and reimbursement for COBRA continued health coverage costs from April 2025 to October 2025.

The settlement also provides for the subsidization of Mr. Goranson’s COBRA health insurance premium for up to 17 months beginning in November 2025. This obligation will end if Mr. Goranson becomes eligible for a group health plan through another employer or if he revokes the agreement.

Additional provisions in the agreement include non-disparagement clauses and a release of claims by Mr. Goranson. The agreement also reaffirms his existing non-solicitation obligations.

The company noted that the summary does not encompass all terms of the agreement, which is included as an exhibit in the SEC filing.

enCore Energy’s common shares are listed on the Nasdaq Capital Market and the TSX Venture Exchange under the symbol EU. All information is based on a press release statement filed with the Securities and Exchange Commission.

In other recent news, enCore Energy Corp. announced the completion of a $115 million convertible notes offering, which includes a $15 million option exercised by initial purchasers. The notes carry a 5.50% interest rate and are due in 2030, with a conversion rate set at 303.9976 common shares per $1,000 principal, translating to a conversion price of $3.2895 per share. This marks a 27.5% premium over the previous closing price on the Nasdaq Capital Market. Additionally, enCore Energy has discovered new uranium deposits near its Alta Mesa In-Situ Recovery Uranium Project in Texas, following a re-analysis of historic drill holes. The company is currently conducting follow-up drilling to assess the full extent of these deposits. In corporate developments, enCore Energy has appointed Kevin Kremke as its new Chief Financial Officer, effective October 1, 2025, and Ashley Forbes as Vice President of Permitting and Regulatory Affairs. The company also named Janet Lee-Sheriff as Senior Vice President - Strategic Initiatives. These appointments reflect enCore Energy’s strategic initiatives and regulatory focus.

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