- enCore Energy Corp. (EU, Financial) sold 170 million shares, fully divesting from Anfield Energy.
- The transaction generated CAD $19.55 million, improving enCore's cash liquidity.
- enCore's ownership in Anfield decreased by 14.73%, with future investment possibilities depending on market conditions.
enCore Energy Corp. (NASDAQ: EU) has announced a strategic move by selling its entire stake in Anfield Energy Inc. The company disposed of 170,000,000 common shares at a price of CAD $0.115 per share, resulting in total proceeds of CAD $19.55 million. This transaction was completed through a private agreement and led to a 14.73% reduction in enCore's ownership of Anfield's outstanding shares.
Following this sale, enCore Energy no longer holds any securities in Anfield, marking a significant departure from its previously reported holdings in January 2024, which accounted for a 16.02% reduction in ownership of Anfield's shares. Despite the complete divestiture, enCore has indicated the possibility of future investments in Anfield Energy, contingent upon favorable market conditions and opportunities.
This divestiture provides enCore Energy with enhanced financial flexibility, enabling the company to bolster its cash position without accruing additional debt. The CAD $19.55 million in proceeds could potentially be utilized for operational expansion, resource development, or strategic acquisitions within the uranium sector, further solidifying enCore's position as a key player in clean energy.
