#United States #Dallas #enCore Energy #KPMG #U.S. Filer

enCore Energy Corp. Transitions to U.S. Domestic Filer Status and Announces Auditor Change

In a significant move, enCore Energy Corp. (NASDAQ: EU), renowned as America's Clean Energy Company™, has declared its change in reporting status with the U.S. Securities and Exchange Commission (SEC). Effective January 1, 2025, the company will no longer operate as a foreign filer, instead becoming a U.S. domestic filer. This important shift marks a new chapter in enCore's commitment to transparency and regulatory compliance.

New Reporting Framework

With this transition, enCore will adopt a new reporting structure, submitting its annual and quarterly reports using Form 10-K and Form 10-Q respectively. This overhaul begins with the filing for the financial year ending December 31, 2024. The adoption of standardized forms used by domestic companies is anticipated to enhance the clarity and accessibility of the company's financial information for investors and stakeholders.

Auditor Appointment

Accompanying the shift in filing status, enCore Energy has made a pivotal decision regarding its auditing partner. The company has appointed KPMG LLP as its new auditor. This decision was sanctioned by enCore's Board of Directors, reflecting the essential support for this transition to a domestic filing status while upholding the highest standards of corporate governance and transparency.

The Audit Committee of enCore reviewed the Notice of Change of Auditors, which includes letters from both the outgoing auditor, Davidson Company LLP, and the new auditor, KPMG. These documents will be made accessible through the company's SEDAR+ profile and on the SEC's EDGAR system. Notably, this transition adheres to regulatory guidelines and is free from any disagreements between enCore and Davidson regarding accounting practices or financial disclosures.

Appreciation for Previous Auditor

EnCore Energy extends its appreciation to Davidson Company LLP, which has served as a trusted advisor since 2016. The company expresses gratitude for their professional support and expertise during this time. Davidson’s audits have been free from any reservations or reportable events for the last two completed financial years and future periods until their resignation.

A Look Ahead

Founded with a commitment to clean and reliable energy solutions, enCore Energy Corp. focuses on uranium extraction using the In-Situ Recovery (ISR) process. As the only U.S.-based uranium company with multiple operational Central Processing Plants, enCore leads the industry with expert knowledge in the nuclear fuel cycle, ensuring sustainable energy practices.

In addition to its current operations in South Texas, the company is developing future projects such as the Dewey-Burdock project in South Dakota and the Gas Hills project in Wyoming. These initiatives represent significant progress in enCore's strategic planning as they aim to expand their production capabilities while collaborating with local communities and indigenous governments to ensure positive impacts from their developments.

While the transition to U.S. domestic filer status and the appointment of KPMG as auditor are pivotal steps for enCore, it is essential for the stakeholders and investors to understand that such changes are part of the natural progression of the company as it aims for enhanced scrutiny and adherence to the highest regulatory standards.

Conclusion

As enCore Energy Corp. embarks on this transformative journey, both management and stakeholders are optimistic about the enhanced operational transparency and corporate governance that come with these changes. The company is poised to reflect its commitment to accountability and sustainable energy in the increasingly evolving energy sector. The implications of these adjustments will likely set the stage for further growth and enhanced visibility in the market, allowing enCore to continue its mission of being a leader in the clean energy domain.

For more details on this transition and to follow enCore's progress, visit their official website and regulators' pages.