The securities have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the “U.S. The Offering is expected to close on or about Maand is subject to certain conditions including, but not limited to, the receipt of all necessary approvals, including the approval of the TSX Venture Exchange (the “Exchange”). The Units will be offered by way of a short form prospectus to be filed in each of the provinces of Canada, other than the Province of Quebec, by way of a private placement in the United States, and in those jurisdictions outside of Canada and the United States which are agreed to by the Company and the Underwriters, where the Common Shares can be issued on a private placement basis, exempt from any prospectus, registration or other similar requirements. The Company intends to use the net proceeds from the Offering for general corporate and working capital purposes. The aggregate gross proceeds of the Offering if the Over-allotment Option is exercised in full shall be $17,250,138. The Underwriters shall be under no obligation whatsoever to exercise the Over-allotment Option in whole or in part. In addition, the Company will also grant the Underwriter an option (the “ Over-allotment Option”) to purchase an additional 1,470,600 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. Each Full Warrant will entitle the holder thereof to purchase one Common Share (a “ Warrant Share”) at a price of $2.00 for a period of 24 months following the Closing Date. Each Unit will be comprised of one Common Share (each a “Common Share”) and one half of one Common Share purchase warrant (each whole Common Share purchase warrant, a “ Warrant”). (“enCore” or the “Company”) (TSXV: EU) is pleased to announce that it has entered into an agreement with Clarus Securities Inc., on behalf of a syndicate of underwriters (collectively, the “Underwriters”), pursuant to which the Underwriters have agreed to purchase, on a “bought deal” basis, 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”). NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED STATESĬORPUS CRISTI, Texas, Ma(GLOBE NEWSWIRE) - enCore Energy Corp.
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