Verdera Raises CAD$20M, enCore to Distribute 35M Shares Post-SEC Approval
enCore Energy will distribute 35 million common shares of Verdera Energy to shareholders once its resale registration clears SEC review, with a record date set thereafter. Verdera raised CAD$20 million on Feb. 12 via subscription receipts ahead of its planned Feb. 20 business combo closing and Feb. 24 TSX-V listing.
1. Share Distribution Plan
enCore Energy will distribute 35 million common shares of Verdera Energy Corp to its shareholders by way of a stock dividend following the effectiveness of Verdera’s resale registration statement with the SEC; a record date will be announced prior to distribution.
2. Resale Registration Timeline
Verdera Energy Corp expects to file its resale registration statement promptly and undergo the standard SEC review and comment process; once declared effective, enCore may proceed with the conversion of 35 million preferred shares into common shares for distribution.
3. Financing and TSX-V Listing
Verdera closed a CAD$20 million subscription receipt financing on February 12 to fund its pending business combination with POCML 7 Inc; the deal is scheduled to close on February 20, with trading on the TSX Venture Exchange under the ticker V set to commence February 24.