EnCore Energy enters master transaction agreement with Boss Energy

EnCore Energy announced that it has entered into a master transaction agreement with Boss Energy, which, upon completion, will result in the sale of a 30% ownership interest in EnCore’s Alta Mesa project to Boss Energy for $60M, an investment of $10M into enCore common shares by Boss Energy, a loan of up to 200,000 pounds U3O8 for enCore’s commercial use over the next year, and the formation of a strategic collaboration on the use and joint development of enCore’s proprietary Prompt Fission Neutron, or PFN, technology for uranium exploration and production. The transaction, expected to be completed in February 2024, provides EnCore with the financial capacity to significantly accelerate its uranium production pipeline across South Texas through the development of multiple satellite operations. In addition, the transaction paves the way for expansion, consolidation and development of enCore’s Dewey Terrace and Dewey-Burdock projects straddling the Wyoming-South Dakota border and enables the Company to quicken development of its Gas Hills project in Wyoming.