enCore Energy Corp. (NASDAQ: EU) has set a record date of September 25, 2026, for a special dividend distribution of common shares of Verdera Energy Corp., with the distribution payable on September 30, 2026.

According to a company statement, enCore will distribute 35,000,000 Verdera common shares on a pro rata basis to its shareholders. The number of shares each shareholder receives will be calculated by dividing the total distribution shares by the number of enCore common shares outstanding on the record date, rounded down to the nearest whole share.

The distribution follows a Share Purchase Agreement dated March 17, 2025, under which enCore received 50,000,000 non-voting preferred shares of Verdera. A subsequent side letter dated April 4, 2025, required Verdera to register the common shares issuable upon conversion under the Securities Act of 1933. The U.S. Securities and Exchange Commission has declared Verdera's resale registration statement effective, satisfying a key condition for the distribution.

Some of the distributed shares will be subject to contractual transfer restrictions, with lock-up periods extending to November 20, 2026, and February 20, 2027.

The distribution remains subject to completion of required filings and receipt of approvals from the Nasdaq Capital Market and the TSX Venture Exchange.