enCore sells New Mexico uranium projects to Verdera for 50M shares, 2% royalties, and $350K cash

enCore Energy Corp.

enCore to sell subsidiary holding Crownpoint, Hosta Butte, Nose Rock, West Largo, and Ambrosia Lake–Treeline projects.
Consideration: 50M non-voting preferred shares (~73% of Verdera fully diluted), 2% net proceeds royalty on uranium, 2% NSR on other minerals, plus $350K cash.
Verdera will seek Canadian stock exchange listing by Dec 10, 2025; 15M shares convert at listing, 35M convert prior to distribution to enCore shareholders.
If listing not achieved by Jan 31, 2026, enCore has right to repurchase subsidiary for return of shares and cancellation of royalties.
Transaction expected to close by March 31, 2025; Audit Committee and Board unanimously approved, Fort Capital provided fairness opinion.

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