enCore Energy Completes Distribution of Verdera Common Shares to its Shareholders

enCore shareholders now hold a direct interest in Verdera and its portfolio of uranium assets in New Mexico.

Rhea-AI Summary

enCore Energy (EU) completed its special dividend of 35,000,000 Verdera Energy common shares to shareholders on September 30, 2026.

The distribution went to shareholders of record on September 25, 2026. It consisted of 21,000,000 unrestricted shares, representing 0.108 Verdera share per enCore share; 7,000,000 shares restricted until November 20, 2026, representing 0.036 share per enCore share; and 7,000,000 shares restricted until February 20, 2027, also representing 0.036 share per enCore share. Following the distribution, enCore holds 15,029,332 Verdera shares, retaining exposure to Verdera while remaining focused on its South Texas operations, South Dakota project and U.S. project pipeline.

2 points · 0 major

PositiveiHow this balance works

How this balance works

Rhea-AI gives every point it takes from this document a weight. Minor counts 1, Moderate 3 and Major 9, so one Major point outweighs several Minor ones. The bar adds up the weights on each side, and when neither side holds more than 65% of the total the balance reads Mixed.

It reads the document as published, with the same rules for every company, and it does not look at what the market expected or at how the stock traded, so a point can be objectively good on a day the stock falls.

Rhea-AI Sentiment measures something else, the tone of the wording.

How the balance worksHow Sentiment works

0 major · 2 points

How the balance works

Positive

• Moderate pointSpecial dividend of 35,000,000 Verdera common shares completed September 30, 2026, delivers shares directly to enCore holders.
• Minor pointRetained holding of 15,029,332 Verdera shares preserves enCore's exposure to Verdera.

Negative

• Minor point7,000,000 distributed Verdera shares, or 0.036 per enCore share, remain restricted until November 20, 2026.
• Minor point7,000,000 distributed Verdera shares, or 0.036 per enCore share, remain restricted until February 20, 2027.

Key Figures

Total distribution: 35,000,000 shares Unrestricted distribution: 21,000,000 shares; 0.108 share per enCore share Restricted distribution tranche: 7,000,000 shares; 0.036 share per enCore share +2 more

Total distribution

35,000,000 shares

Completed as a special dividend on September 30, 2026

Unrestricted distribution

21,000,000 shares; 0.108 share per enCore share

Unrestricted Verdera shares

Restricted distribution tranche

7,000,000 shares; 0.036 share per enCore share

Restricted until November 20, 2026

Restricted distribution tranche

7,000,000 shares; 0.036 share per enCore share

Restricted until February 20, 2027

Verdera shares retained

15,029,332 shares

Aggregate holding following the distribution

Historical Context

1 past event · Latest: Sep 21

1 event

1. Sep 21

   Distribution update

   24h Move

   +17.2%

   Announced a planned 35,000,000-share special dividend with September 25 record and September 30 payment dates.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Key Terms

isr

1 terms

isr technical

"portfolio of ISR uranium assets in New Mexico"

ISR stands for socially responsible investing (from the French phrase Investissement Socialement Responsable) and means choosing stocks, bonds or funds based on environmental, social and governance criteria in addition to financial return. Like picking a brand that matches your values, ISR matters to investors because it helps align portfolios with personal or institutional priorities, can reduce exposure to companies with regulatory or reputational risks, and can influence demand and valuation for firms deemed more sustainable.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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NASDAQ, TSXV:EU
www.encoreuranium.com

DALLAS, Oct. 1, 2026 /PRNewswire/ -- enCore Energy Corp.(NASDAQ, TSXV: EU) (the "Company" or "enCore"), America's Clean Energy Company™, announces that it has completed the previously announced distribution of 35,000,000 common shares (the "Distribution Shares") of Verdera Energy Corp. (TSXV: V) (OTCQB: VUECF) ("Verdera") as a special dividend on September 30, 2026, to enCore shareholders of record on September 25, 2026. 

The distribution of the Distribution Shares consisted of:

• 21,000,000 unrestricted Verdera shares, representing 0.108 of an unrestricted Verdera share for each enCore share held;
• 7,000,000 Verdera shares restricted until November 20, 2026, representing 0.036 of a restricted Verdera share for each enCore share held; and
• 7,000,000 Verdera shares restricted until February 20, 2027, representing 0.036 of a restricted Verdera share for each enCore share held.

Fractional share entitlements were rounded down in accordance with the terms of the distribution. As a result, the Company retained 17,554 unrestricted Verdera shares, 5,889 Verdera shares restricted until November 20, 2026, and 5,889 Verdera shares restricted until February 20, 2027.  Following the distribution, the Company holds an aggregate of 15,029,332 Verdera shares.

With the distribution complete, enCore shareholders now hold a direct interest in Verdera and its portfolio of ISR uranium assets in New Mexico.

"Completing the Verdera distribution delivers on our commitment to put value directly in the hands of enCore shareholders," said Rich Little, Chief Executive Officer of enCore. "Verdera now has its own shareholder base and a dedicated team to advance its New Mexico assets, while enCore remains focused on our South Texas operations, South Dakota project, and U.S. project pipeline and retains exposure to Verdera's progress through our shareholding. We congratulate the Verdera team on reaching this milestone and look forward to both companies contributing to a stronger domestic uranium supply for the United States."

About enCore Energy Corp.

enCore Energy Corp., America's Clean Energy Company™, is committed to providing clean, reliable, and affordable uranium to fuel the rapidly expanding U.S. nuclear energy needs. enCore's team is led by industry experts with extensive knowledge and experience in all aspects of uranium ISR operations and the nuclear fuel cycle. enCore exclusively uses ISR for uranium extraction, a minimally invasive, eco-friendly, and economically competitive mineral extraction technology co-developed by enCore's leadership.

Building on enCore's demonstrated and continuing success in South Texas, future projects in enCore's planned project pipeline include the expansion of Alta Mesa to include the Alta Mesa East property, the Dewey Burdock project in South Dakota, and the Gas Hills project in Wyoming. The Company holds other assets, including non-core assets and proprietary databases. enCore is committed to working with local communities and indigenous governments to create positive impacts from corporate projects.

For further information please contact:
William M. Sheriff
Executive Chair
972.333.2214
info@encoreuranium.com
www.encoreuranium.com

Investor Relations
Graham Farrell
416-842-9003
graham@northstarir.ca

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release.

Cautionary Note Regarding Forward Looking Statements:

This press release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 and Canadian securities laws that are based on management's current expectations, assumptions and beliefs. Forward-looking statements can often be identified by such words as "anticipates," "will," "may," "expects," "plans," "believes," "intends," "estimates," "projects," "continue," "potential," and similar expressions or variations (including negative variations) of such words and phrases, or statements that certain actions, events or results "may," "could," or "will" be taken.

Forward-looking statements and information that are not statements of historical fact include, but are not limited to, any statements regarding future expectations, beliefs, goals or prospects and statements regarding the Distribution Shares and should be considered forward-looking statements. All such forward-looking statements are not guarantees of future results and forward-looking statements are subject to important risk factors and uncertainties, many of which are beyond the Company's ability to control or predict, that could cause actual results to differ materially from those expressed in any forward-looking statement.

A number of important factors could cause actual results or events to differ materially from those indicated or implied by such forward-looking statements, including factors relating to forward-looking statements listed above which include risks as disclosed in the Company's filings on SEDAR+ and with the SEC, including its Annual Report on Form 10-K, Quarterly Reports on Form 10-Q, management discussion and analysis and annual information form. Should one or more of these risks materialize, or should assumptions underlying the forward-looking statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected. The Company assumes no obligation to update the information in this communication, except as required by law. Additional information identifying risks and uncertainties is contained in filings by the Company with the respective securities commissions which are available online at www.sec.gov and www.sedarplus.ca.

Forward-looking statements are provided for the purpose of providing information about the current expectations, beliefs and plans of management. Such statements may not be appropriate for other purposes and readers should not place undue reliance on these forward-looking statements, that speak only as of the date hereof, as there can be no assurance that the plans, intentions or expectations upon which they are based will occur. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement.

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SOURCE enCore Energy Corp.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

When did enCore complete its Verdera share dividend, and who qualified?

enCore completed the special dividend on September 30, 2026, for shareholders of record on September 25, 2026. The distribution consisted of 35,000,000 Verdera common shares, including unrestricted shares and two restricted tranches.

How were fractional shares handled in enCore's Verdera distribution?

Fractional share entitlements were rounded down under the distribution terms. As a result, enCore retained 17,554 unrestricted Verdera shares, 5,889 shares restricted until November 20, 2026, and 5,889 shares restricted until February 20, 2027.