Form 8-K

8-K — enCore Energy Corp.

Accession: 0001193125-26-222814

Filed: 2026-05-14

Period: 2026-05-14

CIK: 0001500881

SIC: 1090 (MISCELLANEOUS METAL ORES)

Item: Results of Operations and Financial Condition

Item: Financial Statements and Exhibits

Documents

8-K — d78166d8k.htm (Primary)

EX-99.1 (d78166dex991.htm)

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8-K

8-K (Primary)

Filename: d78166d8k.htm · Sequence: 1

8-K

00-0000000 NASDAQ false 0001500881 0001500881 2026-05-14 2026-05-14

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

Current Report

Pursuant to Section 13 or 15(d)

of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): May 14, 2026

enCore Energy Corp.

(Exact name of registrant as specified in its charter)

British Columbia

001-41489

N/A

(State or other jurisdiction

of incorporation)

(Commission

File Number)

(IRS Employer

Identification No.)

One Galleria Tower

13355 Noel Rd, Suite 1700

Dallas, Texas

75240

(Address of principal executive offices)

(Zip Code)

Registrant’s telephone number, including area code: (361) 239-2025

Not Applicable

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐

Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐

Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐

Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐

Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class:

Trading

Symbol

Name of each exchange

on which registered:

Common Shares, no par value

The Nasdaq Capital Market LLC

TSX Venture Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 2.02. Results of Operations and Financial Condition.

The following information is intended to be furnished under Item 2.02 of Form 8-K, “Results of Operations and Financial Condition.” This information shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, whether made before or after the date of this report, regardless of any general incorporation language in the filing. On May 14, 2026, enCore Energy Corp. issued a press release announcing its financial results for the Company’s first quarter ended March 31, 2026. The full text of the press release is furnished herewith as Exhibit 99.1 to this report.

Item 9.01. Financial Statements and Exhibits.

(d) Exhibits.

Exhibit

Description

99.1

Press Release of enCore Energy Corp. dated May 14, 2026

104

Cover Page Interactive Data File (embedded within the Inline XBRL document)

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

ENCORE ENERGY CORP.

By:

/s/ Robert W. Hudson Jr.

Robert W. Hudson Jr.

General Counsel and Secretary

Dated: May 14, 2026

EX-99.1

Filename: d78166dex991.htm · Sequence: 2

EX-99.1

Exhibit 99.1

NEWS RELEASE

NASDAQ: EU

TSXV: EU

May 14, 2026

www.encoreuranium.com

enCore Energy Reports Q1 2026 Financial Results

DALLAS, May 14, 2026 – enCore Energy Corp. (NASDAQ: EU) (TSXV: EU) (the “Company” or “enCore”),

America’s Clean Energy CompanyTM, announced today its financial and operational results for the first quarter ended March 31, 2026.

William M. Sheriff, Executive Chairman of enCore Energy, stated, “enCore’s first quarter results reflect year-over-year improvements in uranium

extraction with only a slight increase in our cost per pound.

“Looking ahead, our new CEO, Richard Little, and I are excited by the company’s

prospects for the remainder of 2026 and beyond as the results of our decisive action plan take full effect:

•

Cut costs across the organization

•

Increase and accelerate shareholder communication

•

Focus on and continue to push for more timely permit approvals

•

Actively evaluate potential industry consolidation opportunities.”

Sheriff continued: “Our early execution is already showing improvement as our overall liquidity as of May 8, 2026, stood at $84.7 million,

including cash, 23.8 million shares of Ur-Energy, plus other marketable securities, excluding Verdera Energy shares.”

Highlights for the first quarter of 2026 include:

•

Net income per share $0.03 for the first quarter of 2026, versus $(0.13) per share loss for the same period ended

March 31, 2025. The improvement in net income per share is driven by improved operations and the impact of the sale of the New Mexico assets to Verdera, as described in the Form 10-Q;

•

Delivery of 270,000 pounds of U3O8 into sales contracts at an average price of $67.78 per pound in Q1 2026,

compared to 290,000 pounds of U3O8 in Q1 2025 at an average price of $62.89 per pound;

•

Q1 2026 weighted average cost of delivered U3O8 was $68.02 per pound compared to a weighted average cost of

$62.97 per pound in the 2025 period;

•

U3O8 extraction of 90,000 pounds during the period ended March 31, 2026, an increase of approximately 22%

from 73,711 pounds during the period ended March 31, 2025;

•

Q1 2026 extraction costs of $46.43 per pound compared to $45.62 in the 2025 period;

•

Closing U3O8 inventory balance was 153,956 pounds at a weighted average cost of $64.52 per pound; and

•

Closing cash and equivalent balance of $41.6 million with total liquidity of $84.7 million, including

marketable securities other than Verdera Energy shares on March 31, 2026.

Total Costs of U3O8 Sold

As of March 31, 2026

As of March 31, 2025

Pounds U3O8

Cost ($000s)

Cost/Pounds

Pounds U3O8

Cost ($000s)

Cost/Pounds

Total Cost of Pounds

270,000

18,365

68.02

290,000

18,262

62.97

Purchased

)

180,000

14,187

78.82

216,289

14,900

68.89

Extracted total

90,000

4,178

46.43

73,711

3,362

45.62

Extracted:

Cash costs

)

3,145

34.94

2,304

31.26

Non-Cash costs

)

1,034

11.48

1,058

14.36

(1)

Lower of actual cost or market price as of the end of Q1-2026.

(2)

Cash costs of extracted pounds related to the cost of goods sold are a metric for investors in evaluating the

Company’s operations.

(3)

Non-cash costs of extracted pounds related to the cost of goods sold as

an insight into additional expenses that impact overall costs and include depletion and certain sales-related fees.

U3O8 Inventory

As of March 31, 2026

As of March 31, 2025

Pounds U3O8

Cost ($000s)

Cost/Pounds

Pounds U3O8

Cost ($000s)

Cost/Pounds

Total Cost of Inventory

153,956

9,934

64.52

153,058

6,182

40.39

Purchased

)

70,000

5,603

80.04

28,711

1,717

59.80

Extracted total cost

83,956

4,331

51.59

124,347

4,465

35.91

Extracted:

Cash costs

)

3,416

40.68

2,859

22.99

Non-Cash costs

)

916

10.91

1,606

12.91

(1)

Lower of actual cost or market price as of the end of Q1-2026.

(2)

Cash costs of extracted pounds related to the cost of goods sold are a metric for investors in evaluating the

Company’s operations.

(3)

Non-cash costs of extracted pounds related to the cost of goods sold as

an insight into additional expenses that impact overall costs and include depletion and certain sales-related fees.

Investor

Information

enCore’s interim financial statements, including the accompanying Management’s Discussion and Analysis, are available in the

Company’s Quarterly Report on Form 10-Q, which was filed with the U.S. Securities and Exchange Commission (“SEC”) today. It includes the Company’s consolidated financial statements for

the three months ended March 31, 2026, and the related notes and financial results. The report can be accessed at www.sec.gov and on enCore’s investor relations page at www.encoreuranium.com.

About enCore Energy Corp.

enCore Energy Corp., America’s Clean Energy Company™, is committed to providing clean,

reliable, and affordable uranium, primarily to fuel the U.S. nuclear energy future. enCore’s team is led by industry experts with extensive knowledge and experience in all aspects of uranium In-Situ

Recovery (ISR) operations and the nuclear fuel cycle. enCore solely utilizes ISR for uranium extraction, a minimally intrusive, eco-friendly, and economically competitive approach to mineral extraction

technology co-developed by enCore’s leadership.

Building on enCore’s demonstrated success in South

Texas, future projects in enCore’s planned project pipeline include the expansion of Alta Mesa to include the Alta Mesa East property, the Dewey -Burdock project in South Dakota, and the Gas Hills project in Wyoming. The Company holds other

assets, including non-core assets and proprietary databases. enCore is committed to working with local communities and indigenous governments to create positive impacts from corporate projects.

Contact:

William M. Sheriff

Executive Chairman

972-333-2214

info@encoreuranium.com

www.encoreuranium.com

Cautionary Note Regarding

Forward-Looking Statements:

This press release contains “forward-looking statements” within the meaning of the Private Securities

Litigation Reform Act of 1995 and Canadian securities laws that are based on management’s current expectations, assumptions, and beliefs. Forward-looking statements can often be identified by such words as “becomes,”

“expects,” “plans,” “believes,” “intends,” “continue,” “potential,” “remains,” and similar expressions or variations (including negative variations) of such words

and phrases, or statements that certain actions, events, or results “may,” “could,” or “will” be taken.

Forward-looking statements and information that are not statements of historical fact include, but are not limited to, any information relating to

statements regarding future or potential extraction, the Company’s prospects, the Company’s decisive action plan, and any other statements regarding future expectations, beliefs, goals or prospects, statements regarding the success of

current and future ISR operations, including projects in our pipeline, and our commitment to working with local communities and indigenous governments to create a positive impact from corporate projects should be considered forward looking

statements. All such forward-looking statements are not guarantees of future results and forward-looking statements are subject to important risks and

uncertainties, many of which are beyond the Company’s ability to control or predict, that could cause actual results to differ materially from those expressed in any forward looking

statement, including those described in greater detail in our filings with the SEC and on SEDAR+, particularly those described in our Annual Report on Form 10-K, Quarterly Reports on Form 10-Q, management’s discussion and analysis, and annual information form. Forward-looking statements necessarily involve known and unknown risks, including, without limitation, risks associated with

assumptions regarding project economics; discount rates; expenditures and the current cost environment; timing and schedule of the projects; general economic conditions; adverse industry events; future legislative and regulatory developments; the

ability of enCore to implement its business strategies; and other risks. A number of important factors could cause actual results or events to differ materially from those indicated or implied by such forward-looking statements, including without

limitation exploration and development risks; changes in commodity prices; access to skilled personnel; the results of exploration and development activities; extraction risks; uninsured risks; regulatory risks; defects in title; the availability of

materials and equipment; timeliness of government approvals and unanticipated environmental impacts on operations; litigation risks; risks posed by the economic and political environments in which the Company operates and intends to operate;

increased competition; assumptions regarding market trends and the expected demand and desires for the Company’s products and proposed products; reliance on industry equipment manufacturers, suppliers and others; the failure to adequately

protect intellectual property; the failure to adequately manage future growth; adverse market conditions; the failure to satisfy ongoing regulatory requirements; and factors relating to forward looking statements listed above. Should one or more of

these risks materialize, or should assumptions underlying the forward-looking statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated, or expected. The Company

assumes no obligation to update the information in this communication, except as required by law. Additional information identifying risks and uncertainties is contained in filings by the Company which are available online

at www.sec.gov and www.sedarplus.ca. Forward-looking statements are provided for the purpose of providing information about the current expectations, beliefs and plans of management. Such statements may not be

appropriate for other purposes and readers should not place undue reliance on these forward-looking statements, that speak only as of the date hereof, as there can be no assurance that the plans, intentions or expectations upon which they are based

will occur. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this press

release are expressly qualified by this cautionary statement.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term

is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release.

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