enCore Energy Corp. announced that it will distribute common shares of its subsidiary, Verdera Energy Corp., to enCore shareholders. The distribution will be based on the conversion of 35 million of enCore’s previously issued 50 million non‑voting preferred shares into common shares, as set out in a side letter dated April 4 2025.
The conversion of 35 million shares is contingent on the effectiveness of Verdera’s resale registration statement with the SEC. Once the registration statement becomes effective, enCore will establish a record date and complete the transfer of shares to its shareholders as a stock dividend.
Verdera’s pending business combination with POCML 7 Inc. is scheduled to close around February 20 2026, after which the company will begin trading on the TSX Venture Exchange under the ticker “V.” The distribution is therefore linked to the timing of that public listing and the regulatory approvals required for the resale registration statement.
The move is part of enCore’s broader strategy to divest non‑core assets and unlock value for its shareholders. enCore’s core operations focus on uranium extraction in South Texas using in‑situ recovery technology, while the sale of its New Mexico assets to Verdera on April 9 2025 and the subsequent distribution of shares represent a shift toward a more streamlined portfolio.
Verdera closed a CAD$20 million subscription‑receipt financing on February 12 2026, providing additional capital for its development plans. The distribution of shares therefore not only provides immediate exposure to Verdera’s future public market performance but also signals enCore’s confidence in the long‑term prospects of its remaining uranium assets.
The content on EveryTicker is for informational purposes only and should not be construed as financial or investment advice. We are not financial advisors. Consult with a qualified professional before making any investment decisions. Any actions you take based on information from this site are solely at your own risk.