enCore Energy Provides Update on Distribution of Verdera Common Shares to its Shareholders

enCore sets key dates and terms for a pro rata special dividend of Verdera Energy shares, pending required stock exchange approvals.

Rhea-AI Summary

enCore Energy (EU) has set September 25, 2026 as the record date and September 30, 2026 as the payment date for a special share dividend of Verdera Energy common shares to its shareholders.

The distribution will use Verdera shares issuable on conversion of 35,000,000 non-voting preferred shares previously received by enCore. The SEC has declared effective a resale registration statement for Verdera, enabling the pro rata distribution, which is calculated by dividing the total Distribution Shares by enCore’s outstanding common shares on the record date and rounding down to the nearest whole share. Some distributed shares will be subject to transfer restrictions until November 20, 2026 and February 20, 2027, and the transaction remains subject to required Nasdaq and TSXV approvals.

Positive

• Special dividend in Verdera shares to enCore shareholders on September 30, 2026
• SEC resale registration effectiveness for Verdera enables share distribution

Negative

• None.

News Explained

The update clarifies that enCore received 50,000,000 non-voting Verdera preferred shares under the 2025 agreement, of which it agreed—subject to conditions—to convert 35,000,000 into the common shares targeted for the September 30, 2026 distribution; the release still says exchange approvals remain outstanding.

Key Figures

Distribution Shares: 35,000,000 shares Consideration Shares: 50,000,000 shares Record Date: September 25, 2026 +2 more

Distribution Shares

35,000,000 shares

Common shares to be distributed as a special dividend

Consideration Shares

50,000,000 shares

Non-voting preferred shares issued under the Share Purchase Agreement

Record Date

September 25, 2026

Shareholders of record eligible for the distribution

Distribution Date

September 30, 2026

Scheduled payment date for the special dividend

Transfer Restrictions

November 20, 2026 and February 20, 2027

Contractual restrictions on transfer of certain Distribution Shares

Key Terms

special dividend, non-voting preferred shares, resale registration statement, pro rata

4 terms

special dividend financial

"as a special dividend on September 30, 2026"

A special dividend is a one-time payment made by a company to its shareholders, usually when it has accumulated excess profits or cash. It is like a bonus or a reward for investors, often signaling that the company has extra funds available. This type of dividend matters because it can indicate a company's financial health or a significant change in its cash situation.

View in glossary

non-voting preferred shares financial

"50,000,000 non-voting preferred shares of Verdera"

A class of company shares that gives holders a priority claim on dividends and assets over ordinary shareholders but does not grant the right to vote on corporate matters. Think of them like a high-priority ticket that pays a steady income before common shareholders get paid, but doesn’t let you sit at the company’s decision-making table. Investors care because these shares can provide more predictable income with less influence over management, so they suit income-focused buyers while preserving control for voting shareholders.

resale registration statement regulatory

"the resale registration statement effective"

A resale registration statement is a document filed with regulators that allows existing shareholders to sell their shares to the public. It provides the necessary legal approval and information for these shares to be resold on the market, helping to increase the availability of shares for trading. For investors, it signals that shares held by current owners can be offered for sale, potentially affecting share prices and market liquidity.

pro rata financial

"declared a pro rata distribution of the Distribution Shares"

Pro rata means dividing or distributing something proportionally based on a specific factor, such as ownership or contribution. For example, if an investor owns 10% of a company, they would receive 10% of any dividends or benefits allocated. This approach ensures everyone gets their fair share relative to their stake or input, helping investors understand how benefits, costs, or responsibilities are fairly shared.

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

See more from StockTitan in Google Search and AI answers. Adds StockTitan as a preferred source · opens Google

Add on Google Not now

NASDAQ:EU
TSXV: EU
www.encoreuranium.com

DALLAS, Sept. 15, 2026 /PRNewswire/ -- enCore Energy Corp. (NASDAQ, TSXV: EU) (the "Company" or "enCore"), America's Clean Energy Company^™, announced today that the Company's board of directors (the "Board") has set a record date for its distribution of common shares of Verdera Energy Corp. ("Verdera") (TSXV: V) (OCTQB: VUECF) as a special dividend on September 30, 2026, to shareholders of record on September 25, 2026.

As previously disclosed (see news releases dated February 18, 2026, and March 18, 2025), the Company, NM Energy Holding Canada Corp. and Verdera entered into (i) a Share Purchase Agreement, dated March 17, 2025, pursuant to which, among other things, the Company was issued 50,000,000 non-voting preferred shares of Verdera (the "Consideration Shares") and (ii) a Side Letter dated April 4, 2025, by and between the Company and Verdera, pursuant to which Verdera agreed to register the common shares issuable on conversion of the Consideration Shares under the Securities Act of 1933, as amended (the "Securities Act") and the Company agreed, subject to the satisfaction of certain conditions, including, but not limited to, the effectiveness of a resale registration statement of Verdera, to elect to convert 35,000,000 Consideration Shares into Verdera common shares (the "Distribution Shares") and set a record date for, and complete, the Company's distribution of such shares to the Company's shareholders by way of stock dividend or similar distribution. Verdera has informed the Company that the Securities and Exchange Commission has declared the resale registration statement effective. As such, the Company has declared a pro rata distribution of the Distribution Shares, determined by dividing the Distribution Shares by the number of common shares of the Company outstanding on September 25, 2026, rounded down to the nearest whole Distribution Share. The distribution will be payable on September 30, 2026, to shareholders of record on September 25, 2026. Certain of the Distribution Shares are subject to contractual restrictions on transfer until November 20, 2026, and February 20, 2027.

The distribution is subject to the completion of all necessary filings with and receipt of all approvals from the Nasdaq Capital Market LLC and the TSX Venture Exchange.

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

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, statements regarding the timing of completion of a distribution of the Distribution Shares to shareholders of the Company 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 without limitation the risk that the occurrence of any event, change or other circumstance that could give rise to delaying or not completing the intended distribution of Distribution Shares, including the risk that a distribution of the Distribution Shares may not be completed in a timely manner or at all, including that a governmental entity may prohibit, delay or refuse to grant final approval for such distribution; and 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.

View original content to download multimedia:https://www.prnewswire.com/news-releases/encore-energy-provides-update-on-distribution-of-verdera-common-shares-to-its-shareholders-302878245.html

SOURCE enCore Energy Corp.