enCore Energy Corp. Announces Increase to Bought Deal Financing

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CORPUS CRISTI, Texas, March 02, 2022 (GLOBE NEWSWIRE) -- enCore Energy Corp. (“enCore” or the “Company”) (TSXV: EU) is pleased to announce today that, due to strong demand, it has agreed with Clarus Securities Inc. (“Clarus”), on behalf of a syndicate of underwriters including PI Financial Corp. and Red Cloud Securities Inc. (collectively, the “Underwriters”), to increase the size of its previously announced “bought-deal” offering of 9,804,000 units (the “Units”) in the capital of the Company, at a price of $1.53 per unit (the “Issue Price”) for aggregate gross proceeds of $15,000,120 (the “Offering”). Pursuant to the upsized deal terms, the Underwriters have agreed to purchase, on a “bought-deal” basis, 16,339,869 Units at the Issue Price for aggregate gross proceeds of up to C$24,999,999.60 In addition, the Company will also grant the Underwriter an option (the “Over-allotment Option”) to purchase an additional 3,267,973 Units, exercisable in whole or in part, for a period of 30 days from and including the Closing Date to cover over-allotments, if any, and for market stabilization purposes. The Underwriters shall be under no obligation whatsoever to exercise the Over-allotment Option in whole or in part. The aggregate gross proceeds of the Offering if the Over-allotment Option is exercised in full shall be $29,999,998.30.