Uranium producer enCore Energy slides on C$30 mln equity raise

enCore Energy

25/01/2023 15:13

** U.S.-listed shares of enCore Energy Corp  EU.N  down
11.5% at $2.39 on Weds after co raises equity
    ** Canadian uranium developer offers ~9.2 mln units at
C$3.25 for total raise of C$30 mln
    ** TSX Venture Exchange shares of enCore  EU.V  closed Tues
at C$3.61. NYSE American shares finished Tues at $2.70
    ** Each unit comprises one common share and one-half of one
common share purchase warrant; each 3-yr warrant entitles holder
to buy one common share at exercise price of C$4.05
    ** Co expects to use net offering proceeds to
maintain/advance its material properties, acquire properties,
plant upgrades, among other uses
    ** Co has ~109 mln shares outstanding
    ** With move on Weds, U.S.-listed shares up 1% YTD
    ** Canaccord Genuity lead underwriter for offering
 (Lance Tupper is a Reuters market analyst. The views expressed
are his own)
 ((lance.tupper@thomsonreuters.com
lance.tupper@tr.com 1-332-219-1430))