DALLAS - enCore Energy Corp. (NASDAQ:EU) (TSXV:EU), a uranium production company, has disclosed the issuance of 7,579,563 common shares under its at-the-market (ATM) equity offering program. The shares were sold through the TSX Venture Exchange (TSXV) and NYSE-American from October 1 to December 31, 2023, at an average price of $3.23 per share, resulting in gross proceeds of approximately $24.4M. A commission of over $611,000 was paid to the agent involved in the transaction.
The company, which brands itself as America's Clean Energy Company™, is focused on providing domestic nuclear energy. It recently commenced uranium production at its South Texas Rosita Central In-Situ Recovery (ISR) Uranium Processing Plant in November 2023 and is preparing to restart production at its South Texas Alta Mesa CPP in 2024. The ISR method, a technology co-developed by enCore's leadership, is utilized for uranium extraction. This method is known for its use of natural groundwater and oxygen in combination with an ion exchange process.
enCore's future projects include the Dewey-Burdock project in South Dakota and the Gas Hills project in Wyoming. The company also holds significant uranium resources in New Mexico, which present long-term opportunities. Additionally, enCore is exploring the application of ISR technology to other metals and is committed to creating a positive impact in local communities and with indigenous governments.
The information provided in this article is based on a press release statement from enCore Energy Corp. It is important to note that forward-looking statements in the press release, such as expectations for future production or being a leading uranium company, involve risks and uncertainties that could cause actual results to differ materially from those projected. Investors are cautioned not to place undue reliance on these forward-looking statements, which only reflect the company's position as of the date of the press release.
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