FILING OF PRELIMINARY PROSPECTUS NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR
DISSEMINATION IN THE UNITED STATES/
CORPUS CHRISTI, TX, March 7, 2022 /CNW/ - enCore Energy Corp. ("enCore" or the "Company") (TSXV: EU) is pleased to announce that, further to its news release of March 2, 2022, the Company has filed a preliminary prospectus dated March 7, 2022 in order to qualify the distribution of 17,050,298 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 $26,086,955.94 (the "Offering"). Each Unit will be comprised of one common share of the Company (each, a "Common Share") and one-half of one Common Share purchase warrant (each whole Common Share purchase warrant, a "Warrant"). Each full Warrant will entitle the holder thereof to purchase one Common Share (each, a "Warrant Share") at a price of $2.00 for a period of 24 months following the closing date of the Offering (the "Closing Date"). In addition, the Company will also grant the Underwriters (as defined below) an option (the "Over-Allotment Option") to purchase an additional 2,557,544 Units at the Issue Price, 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, will be $29,999,998.26.