Verdera Energy Announces $20 Million Qualifying Transaction Financing

The news release dated January 7, 2026, details a $20 million financing for Verdera Energy Corp., a company that previously acquired enCore Energy's New Mexico uranium assets. This financing is a "Qualifying Transaction" involving a reverse takeover (RTO) of POCML 7 Inc. (a capital pool company). The financing consists of 20 million subscription receipts priced at $1.00 CAD, which include a half-warrant (exercise price $1.00 CAD for 18 months).

The proceeds are earmarked for the advancement of the Crownpoint and Hosta Butte Uranium Project in New Mexico, which enCore divested in April 2025 in exchange for 50 million preferred shares and a 2% royalty.

For enCore Energy (EU) shareholders, this news is the formal execution of the "value-unlock" strategy initiated in early 2025. - Share Distribution: Per the April 2025 agreement, enCore intended to distribute 35 million of its Verdera shares to its own shareholders as a dividend upon a successful listing. The $20 million financing confirms that the listing process is moving forward and the project is now sufficiently capitalized. - Asset Monetization: Verdera is shouldering the exploration and permitting costs of the New Mexico assets (Crownpoint, Hosta Butte, Nose Rock, etc.), allowing enCore to focus its $100M+ cash pile on the South Texas production ramp-up and the Dewey Burdock development. - Royalty Retention: enCore maintains a 2% net proceeds royalty on these projects, providing long-term exposure to the Grants Uranium District without the associated operational overhead.

EnCore Energy Corp. is a domestic U.S. uranium producer focused on In-Situ Recovery (ISR). - Flagship Project: The Alta Mesa Project (Texas), a 70/30 joint venture with Boss Energy. It features a Central Processing Plant (CPP) with a capacity of 1.5 million lbs/year. - Production Status: Operational. As of Q3 2025, the company reported uranium extraction of 227,070 pounds for the quarter, indicating a successful ramp-up. - Growth Pipeline: The Dewey Burdock Project (South Dakota) and Gas Hills (Wyoming). Dewey Burdock is currently in the federal Fast-41 program to accelerate permitting.