Encore Energy Corp. (NASDAQ: EU) (TSXV: EU) recently announced its plans to distribute common shares of Verdera Energy Corp. ("Verdera") to its shareholders. This move comes after the completion of a share purchase agreement, wherein the company was issued 50,000,000 non-voting preferred shares of Verdera, and a side letter agreement, pursuant to which Verdera agreed to register the common shares issuable on conversion of the preferred shares under the Securities Act of 1933.
Verdera has informed Encore that it expects to file a resale registration statement with the Securities and Exchange Commission (SEC) promptly, which will become effective following the standard review and comment process of the SEC. Once the registration statement is declared effective by the SEC, Encore may proceed with the distribution of the shares.
Additionally, Verdera recently closed a CAD$20,000,000 subscription receipt financing in advance of its business combination with POCML 7 Inc., a capital pool company listed on the TSX Venture Exchange. The closing of the business combination is currently scheduled to occur on or about February 20, 2026, with trading on the TSX-V to commence on or about February 24, 2026, subject to meeting all listing requirements.
Encore Energy Corp., known as "America’s clean energy company," operates multiple central processing plants in South Texas for uranium extraction. The company is committed to providing clean, reliable, and affordable fuel for domestic nuclear energy and has demonstrated success in South Texas. Its future projects include the Dewey Burdock project in South Dakota and the Gas Hills project in Wyoming.
Encore's leadership team comprises industry experts with extensive knowledge and experience in all aspects of uranium in-situ recovery ("ISL") operations and the nuclear fuel cycle. The company solely utilizes ISL for uranium extraction, a well-known and proven technology co-developed by its leaders.
Encore Energy Corp. is poised to bring positive impact from corporate projects by working with local communities and indigenous governments. The company's commitment to clean energy and its strategic initiatives position it for potential growth and development in the clean energy sector.
For more detailed information on the transaction and the companies involved, interested parties can refer to the TSX-V filing statement available at www.sedarplus.ca under filings for POCML7. The market has reacted to these announcements by moving the company's shares 0.98% to a price of $3.10. For the full picture, make sure to review enCore Energy's 8-K report.
