Encore Energy reduces Alta Mesa debt to $40 billion with paydowns

By Mary-Katherine Stinson

Lexington, Ky., Oct. 4 – enCore Energy Corp. reduced the balance on its $60 million Alta Mesa debt to Energy Fuels Inc., according to a news release.

The company has repaid $20 million of the debt, leaving $40 million outstanding.

Funds for repayment of the debt to Energy Fuels came from sales under the company’s at-the-market equity offering program. The company issued a total of 7,981,279 common shares between July 1 to Sept. 30 under the program at an average share price of $3.08 per share for gross proceeds of $24,543,211.

enCore is a Corpus Christi, Tex.-based uranium developer.

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