enCore Energy Completes Sale of the Marquez-Juan Tafoya Uranium Project

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[{"type":"text","content":"\n \n \n \n enCore Energy Completes Sale of the Marquez-Juan Tafoya Uranium Project\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntar{\nTEXT-ALIGN: RIGHT\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n NYSE American:EU\n \n \n \n TSXV:EU\n \n \n \n \n \n DALLAS\n \n \n ,\n \n \n July 20, 2023\n \n \n /CNW/ -\n \n enCore Energy Corp.\n \n (\"\n \n enCore\n \n \" or the \"\n \n Company\n \n \") (NYSE American: EU) (TSXV: EU) announced today the completion of the sale of the Marquez-Juan Tafoya Uranium Project to Anfield Energy Inc. (\"Anfield\") (TSX.V:AEC; OTCQB:ANLDF) for aggregate consideration of\n \n C$5,000,000\n \n payable in cash and 185,000,000 common shares of Anfield. The deemed value of the share consideration at the time of closing is\n \n C$9,250,000\n \n (based on a share price of\n \n C$0.05\n \n ). A total of\n \n C$4,000,000\n \n of the cash payment was received on closing, and a further\n \n C$1,000,000\n \n is payable by\n \n September 25, 2023\n \n .\n \n \n \n \n \n \n \n \n \n \n William M. Sheriff\n \n , Executive Chairman stated: \"The sale of the Marquez-Juan Tafoya Uranium Project represents the third successful transaction in enCore's ongoing program of divesting established quality uranium assets that are not in its production pipeline. This transaction provides us with both cash and participation as a significant shareholder in one of only three licensed conventional uranium mills in\n \n the United States\n \n . As always our focus remains on advancing our\n \n Rosita and Alta Mesa\n \n In-Situ Recovery Uranium Central Processing Plant, where we remain on track, back into production in 2023 and early 2024 respectively.\"\n \n \n The transaction was completed pursuant to a share purchase agreement dated\n \n June 5, 2023\n \n \n (EU NR\n \n June 6, 2023\n \n )\n \n . Under the terms of the agreement, on closing\n \n Anfield\n \n acquired all of the outstanding shares of the Company's wholly owned subsidiary, Neutron Energy Inc., which holds the Marquez-Juan Tafoya Uranium Project as its sole asset. Under the terms of the agreement with\...

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