VANCOUVER, BC, Dec. 23, 2021 /PRNewswire/ - enCore
Energy Corp. (TSXV: EU) (OTCQB: ENCUF) ("enCore") and
Azarga Uranium Corp. (TSX: AZZ) ( OTCQB: AZZUF) (FRA: P8AA)
("Azarga Uranium") are pleased to announce that Azarga
Uranium has received a final order from the Supreme Court of
British Columbia approving the
previously announced plan of arrangement (the "Arrangement")
whereby enCore will on closing acquire all of the issued and
outstanding common shares of Azarga Uranium.
Closing of the Arrangement is expected to occur on December 31, 2021, subject to customary closing
conditions, including final stock exchange approval.
On closing of the Arrangement, the current board of directors
and management of enCore and Azarga Uranium will remain unchanged.
About enCore Energy Corp.
enCore Energy Corp., a U.S. domestic uranium developer focused
on becoming a leading in-situ recovery ("ISR") uranium producer, is
led by a team of industry experts with extensive knowledge and
experience in all aspects of ISR uranium operations. enCore
Energy's initial opportunities are created from enCore's
South Texas licensed and
past-producing Rosita and Kingsville Dome ISR production
facilities, under development, and multiple satellite projects in
South Texas plus the changing
global uranium supply/demand outlook and opportunities for industry
consolidation. Large uranium resource endowments in
New Mexico add to the asset base
for long term growth and development opportunities.
About Azarga Uranium Corp.
Azarga Uranium is an integrated uranium exploration and
development company that controls ten uranium projects and
prospects in the United States of
America ("USA") (South
Dakota, Wyoming,
Utah and Colorado), with a primary focus of developing
in-situ recovery uranium projects. The Dewey Burdock in-situ
recovery uranium project in South Dakota,
USA (the "Dewey Burdock Project"), which is Azarga Uranium's
initial development priority, has been issued its Nuclear
Regulatory Commission License and Class III and Class V Underground
Injection Control permits from the Environmental Protection Agency
and Azarga Uranium is in the process of completing other major
regulatory permit approvals necessary for the construction of the
Dewey Burdock Project.
Cautionary Statements
Certain information contained herein constitutes forward-looking
information or statements under applicable securities legislation
and rules. All statements, other than statements of historical
fact, are forward-looking statements. Forward-looking statements
are frequently identified by such words as "may", "will", "plan",
"expect", "anticipate", "estimate", "intend", "indicate",
"scheduled", "target", "goal", "potential", "subject", "efforts",
"option" and similar words, or the negative connotations thereof,
referring to future events and results. Forward-looking
statements in this press release include, but are not limited to,
statements related to the anticipated completion of the Arrangement
and the terms of the Arrangement and receipt of certain regulatory
approvals, including stock exchange approval.
Forward-looking statements are based on the opinions and
estimates of management as of the date such statements are made and
are subject to known and unknown risks, uncertainties and other
factors that may cause the actual results, level of activity,
performance or achievements of enCore to be materially different
from those expressed or implied by such forward-looking statements,
including, but not limited to: any inability of the parties to
satisfy the conditions to the completion of the Arrangement on
acceptable terms or at all; receipt of necessary stock exchange
approvals; the ability of enCore to achieve its stated goals and
objectives; the costs associated with enCore's objectives; risks
and uncertainties related to the COVID-19 pandemic and measures
taken to attempt to reduce the spread of COVID-19; and the risks
and uncertainties identified in each of enCore and Azarga Uranium's
most recent Management's Discussion and Analysis, filed on SEDAR at
www.sedar.com. Although management of enCore and Azarga Uranium
have attempted to identify important factors that could cause
actual results to differ materially from those contained in
forward-looking statements, there may be other factors that cause
results not to be as anticipated, estimated or intended. There can
be no assurance that such statements will prove to be accurate.
Accordingly, readers should not place undue reliance on
forward-looking statements. Neither enCore or Azarga Uranium will
update any forward-looking statements or forward-looking
information that are incorporated by reference herein, except as
required by applicable securities laws. enCore and Azarga Uranium
caution readers not to place undue reliance on these
forward-looking statements and it does not undertake any obligation
to revise and disseminate forward-looking statements to reflect
events or circumstances after the date hereof, or to reflect the
occurrence of or non-occurrence of any events.
This press release is not and is not to be construed in any way
as, an offer to buy or sell securities in the United States. The distribution of the
enCore common shares in connection with the transactions described
herein will not be registered under the United States Securities
Act of 1933 (the "U.S. Securities Act") and the enCore common
shares may not be offered or sold in the
United States absent registration or an applicable exemption
from the registration requirements of the U.S. Securities Act and
applicable state securities laws. This press release shall not
constitute an offer to sell or the solicitation of an offer to buy
the enCore common shares, nor shall there be any offer or sale of
the enCore common shares in any jurisdiction in which such offer,
solicitation or sale would be unlawful.
Neither the TSX, the TSX Venture Exchange nor its Regulation
Services Provider (as that term is defined in the policies of the
TSX and TSX Venture Exchange) accepts responsibility for the
adequacy or accuracy of this release.
www.azargauranium.com
www.encoreuranium.com
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SOURCE enCore Energy Corp.