Energy Fuels Sold To MMCAP International The Remaining Unpaid Balance Of $20M Owed Under The Secured Convertible Note Issued To The Company By enCore Energy As Partial Consideration For enCore's Purchase Of The Alta Mesa In-situ Recovery Project
Portfolio Pulse from Benzinga Newsdesk
Energy Fuels Inc. has sold the remaining unpaid balance of $20M owed under a secured convertible note to MMCAP International. This note was issued by enCore Energy as partial consideration for the purchase of the Alta Mesa in-situ recovery project from Energy Fuels.
November 13, 2023 | 11:19 am
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Energy Fuels Inc. (UUUU) has offloaded a $20M debt obligation to MMCAP International, stemming from enCore Energy's purchase of the Alta Mesa project.
The sale of the unpaid balance of the convertible note is likely to be viewed positively by investors as it improves the financial position of Energy Fuels Inc. by reducing debt and potentially strengthening the balance sheet. This could lead to a short-term positive impact on the stock price.
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