The distribution process, finalized for shareholders of record as of September 25, included 21 million unrestricted shares and 14 million restricted shares, split between two maturity dates in November 2026 and February 2027. Fractional entitlements were rounded down, resulting in enCore retaining 29,332 shares across the three categories. Following this transaction, enCore maintains an aggregate holding of approximately 15 million Verdera shares.
Rich Little, CEO of enCore, stated that the spin-off fulfills a commitment to deliver value directly to investors. While Verdera will now operate with its own dedicated team to advance its portfolio, enCore remains focused on expanding its pipeline, including the Alta Mesa project in Texas and sites in South Dakota and Wyoming. The company continues to utilize in-situ recovery (ISR) technology for its extraction operations.
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