11:56 AM EST, 11/03/2025 (MT Newswires) -- (Updates shares.)

enCore Energy (EU.V)-backed Verdera Energy said Monday it agreed to a takeover by capital pool company POCML 7 (POC-P.V) in a go-public transaction.

Verdera owns the Crownpoint and Hosta Butte in-situ recovery uranium projects in New Mexico.

Under the terms, POCML 7 will acquire Verdera in exchange for post-consolidation shares on the basis of one share for each Verdera share held.

Upon completion, the resulting issuer will operate as Verdera Energy and will be listed on the TSX Venture Exchange.

Concurrent with the transaction, Verdera intends to complete a financing of subscription receipts for up to C$20 million in proceeds, which will be used to advance the Crownpoint and Hosta Butte projects.

Janet Lee Sheriff will lead the resulting issuer as chair and chief executive officer. Kevin Bambrough, Mark Pelizza, Jon Indall and Greg Hayes will be named directors while Scott Davis will be named chief financial officer.

EnCore shares were last see down $0.28 to $4.02 on the TSX Venture Exchange.