enCore Energy Enters Definitive Agreement for Sale of New Mexico Assets; Plans to Distribute Consideration Shares to enCore Shareholders

NASDAQ:EU
TSXV:EU
 www.encoreuranium.com

DALLAS, March 18, 2025 /CNW/ - enCore Energy Corp. (NASDAQ:EU) (TSXV:EU.VN) (the "Company" or "enCore"), America's Clean Energy Company™, announced today that it has entered into a share purchase agreement (the "Agreement") with Verdera Energy Corp. ("Verdera") pursuant to which Verdera will acquire an enCore subsidiary that holds the Crownpoint, Hosta Butte, Nose Rock, West Largo, and Ambrosia Lake – Treeline uranium projects located in New Mexico (the "Properties") in exchange for 50,000,000 non-voting preferred shares (the "Consideration Shares") of Verdera representing approximately 73% of the current issued and outstanding shares of Verdera on a fully diluted basis,; a 2% net proceeds royalty on uranium, and a 2% net smelter returns royalty on other minerals, extracted and sold from the Properties, and a non-refundable cash payment of US $350,000. The transaction with Verdera represents the fourth and largest transaction to date in enCore's ongoing program of divesting uranium assets that are not in its production pipeline.