Energy fuels announces sale of secured convertible note and receipt of payment in full for prior sale of alta mesa isr project

Together with $41.8 million previously paid by encore, net proceeds from the note total $64.2 million lakewood, colo. , nov. 13, 2023 /prnewswire/ - energy fuels inc. (nyse american: uuuu) (tsx: efr) ("energy fuels" or the "company") is pleased to announce that, on november 9, 2023, it sold to mmcap international inc. spc ("mmcap") the remaining unpaid balance of $20 million owed under the secured convertible note (the "note") issued to the company by encore energy corp. ("encore") as partial consideration for encore's purchase of the alta mesa in-situ recovery project (the "alta mesa sale"), as previously announced on february 15, 2023, for total consideration of $21 million plus $1.5 million in unpaid accrued interest, less a sales commission of $100,000 paid to a third-party broker.
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