<SEC-DOCUMENT>0001213900-23-007738.txt : 20230203
<SEC-HEADER>0001213900-23-007738.hdr.sgml : 20230203
<ACCEPTANCE-DATETIME>20230203060123
ACCESSION NUMBER:		0001213900-23-007738
CONFORMED SUBMISSION TYPE:	6-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20230203
FILED AS OF DATE:		20230203
DATE AS OF CHANGE:		20230203

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			enCore Energy Corp.
		CENTRAL INDEX KEY:			0001500881
		STANDARD INDUSTRIAL CLASSIFICATION:	MISCELLANEOUS METAL ORES [1090]
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			A1
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		6-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-41489
		FILM NUMBER:		23583601

	BUSINESS ADDRESS:	
		STREET 1:		101 N. SHORELINE BLVD, SUITE 450
		CITY:			CORPUS CHRISTI
		STATE:			TX
		ZIP:			78401
		BUSINESS PHONE:		361-239-5449

	MAIL ADDRESS:	
		STREET 1:		101 N. SHORELINE BLVD, SUITE 450
		CITY:			CORPUS CHRISTI
		STATE:			TX
		ZIP:			78401

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	Encore Energy Corp.
		DATE OF NAME CHANGE:	20170301

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	WOLFPACK GOLD CORP.
		DATE OF NAME CHANGE:	20130523

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	TIGRIS URANIUM CORP.
		DATE OF NAME CHANGE:	20100908
</SEC-HEADER>
<DOCUMENT>
<TYPE>6-K
<SEQUENCE>1
<FILENAME>ea172669-6k_encore.htm
<DESCRIPTION>REPORT OF FOREIGN PRIVATE ISSUER
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>UNITED STATES<BR>
SECURITIES AND EXCHANGE COMMISSION<BR>
Washington, D.C. 20549</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>FORM 6-K</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Report of Foreign Private Issuer<BR>
Pursuant to Rule 13a-16 or 15d-16 of<BR>
the Securities Exchange Act of 1934</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>For the month of January 2023</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Commission File Number 001-41489</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>enCore Energy Corp.<BR>
</B>(Translation of registrant&rsquo;s name into English)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>101 N. Shoreline Blvd. Suite 450, Corpus Christi,
TX 78401<BR>
</B>(Address of principal executive offices)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Indicate by check mark whether the registrant
files or will file annual reports under cover of Form 20-F or Form&nbsp;40F:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Form 20-F &#9744; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Form
40-F &#9746;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Incorporation by Reference</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Exhibit 99.1 of this Form 6-K is incorporated by reference as an additional
exhibit to the registrant&rsquo;s Registration Statements on Form F-10 (File Nos. <A HREF="http://www.sec.gov/Archives/edgar/data/1500881/000121390023004836/ff102023_encoreenergycorp.htm">333-269387</A> and <A HREF="http://www.sec.gov/Archives/edgar/data/1500881/000121390023005393/ff102023_encoreenergy.htm">333-269428</A>)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The following documents are being submitted herewith:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

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    <TD STYLE="vertical-align: top; width: 8%; border-bottom: black 1.5pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Exhibit</B></FONT></TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 91%; border-bottom: black 1.5pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Description</B></FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: #CCEEFF">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">99.1</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><A HREF="ea172669ex99-1_encore.htm"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Material Change Report dated January 30, 2023</FONT></A></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">SIGNATURES</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">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, thereunto duly authorized.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

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    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>enCore Energy Corp.</B></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(Registrant)</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 60%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Date: February 3, 2023</FONT></TD>
    <TD STYLE="width: 5%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">By:</FONT></TD>
    <TD STYLE="width: 35%; border-bottom: black 1.5pt solid; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">/s/ Carrie Mierkey</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Name:&nbsp;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Carrie Mierkey</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Title:</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Chief Financial Officer</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">2</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

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<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>ea172669ex99-1_encore.htm
<DESCRIPTION>MATERIAL CHANGE REPORT DATED JANUARY 30, 2023
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<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>Exhibit 99.1</B></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">FORM 51-102F3</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">MATERIAL CHANGE REPORT</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-family: Times New Roman, Times, Serif">
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 4pt; width: 5%; font-weight: bold; text-align: center; font-size: 11pt"><FONT STYLE="font-size: 10pt">1.</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt"> </FONT></TD>
    <TD STYLE="padding-top: 4pt; width: 95%">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 12.6pt; text-align: justify"><B><U>NAME AND ADDRESS OF COMPANY</U></B></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 12.6pt; text-align: justify">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 12.6pt">enCore Energy Corp.<BR>
    101 N. Shoreline Blvd, Suite 450</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 12.6pt">Corpus Christi, TX</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 12.6pt">78401</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 4pt; font-weight: bold; text-align: center; font-size: 11pt"><FONT STYLE="font-size: 10pt">2.</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">  </FONT><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-top: 4pt">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 12.6pt; text-align: justify"><B><U>DATE OF MATERIAL CHANGE</U></B></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 12.6pt; text-align: justify">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 12.45pt; text-align: justify"><FONT STYLE="font-weight: normal">January
    25, 2023 </FONT></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 12.45pt; text-align: justify">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 4pt; font-weight: bold; text-align: center; font-size: 11pt"><FONT STYLE="font-size: 10pt">3.</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">  </FONT><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-top: 4pt">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 12.6pt; text-align: justify"><B><U>NEWS RELEASE</U></B></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 12.6pt; text-align: justify"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 12.45pt; text-align: justify"><FONT STYLE="font-weight: normal">News
    release dated January 25, 2023 was disseminated through the facilities of Cision. </FONT></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 12.45pt; text-align: justify">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 4pt; font-weight: bold; text-align: center; font-size: 11pt"><FONT STYLE="font-size: 10pt">4.</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">  </FONT><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-top: 4pt">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 12.6pt; text-align: justify"><B><U>SUMMARY OF MATERIAL CHANGE</U></B></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 12.6pt; text-align: justify">enCore Energy Corp. announces C$30
    million underwritten public offering</P>
    <P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 12.6pt; text-align: justify">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 4pt; font-weight: bold; text-align: center; font-size: 11pt"><FONT STYLE="font-size: 10pt">5.</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">  </FONT><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-top: 4pt">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 12.6pt; text-align: justify"><B><U>FULL DESCRIPTION OF MATERIAL
    CHANGE</U></B></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 12.6pt; text-align: justify">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 12.15pt; text-align: justify">enCore Energy Corp. (&ldquo;<B>enCore</B>&rdquo;
    or the &ldquo;<B>Company</B>&rdquo;) (NYSE American: EU; TSXV: EU) announced that it has entered into an underwriting agreement with Canaccord
    Genuity as lead underwriter, together with a syndicate of underwriters (the &ldquo;<B>Underwriters</B>&rdquo;) for the sale of 9,231,000
    units of the Company (the &ldquo;<B>Units</B>&rdquo;) at a price of C$3.25 per Unit for total gross proceeds to the Company of approximately
    C$30 million.</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 12.15pt; text-align: justify">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 12.15pt; text-align: justify">Each Unit will consist of one common
    share in the capital of the Company (each a &ldquo;<B>Unit Share</B>&rdquo;) and one-half of one common share purchase warrant (a &ldquo;<B>Warrant</B>&rdquo;).
    Each Warrant will entitle the holder thereof to purchase one common share of the Company (a &ldquo;<B>Warrant Share</B>&rdquo;) for a
    period of 36 months following the Closing Date (as defined herein) of the Offering at an exercise price of C$4.05 per Warrant Share, subject
    to adjustment in certain events.</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 12.15pt; text-align: justify">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 12.15pt; text-align: justify">In addition, the Company has granted
    the Underwriters an option to purchase up to an additional 1,384,650 Units on the same terms and conditions exercisable at any time, in
    whole or in part, until 30 days following the Closing Date, for market stabilization purposes and to cover over-allotments, if any.</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 12.15pt; text-align: justify">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 12.15pt; text-align: justify">The Company expects to use the net
    proceeds from the Offering to maintain and advance the Company&rsquo;s material properties, acquire properties, plant upgrades, drilling, maintenance
    and refurbishment, community outreach and communications, licensing and permitting and for general corporate and working capital purposes
    in the manner as set forth in the preliminary short form prospectus. In addition, if the Company is not able to complete a potential loan
    transaction contemplated by a non-binding term sheet prior to February 15, 2023, the Company expects to use a portion of the proceeds
    from the Offering to fund amounts required to be paid to complete the Company&rsquo;s previously announced pending acquisition of the
    Alta Mesa ISR uranium project (the &ldquo;<B>Alta Mesa Acquisition</B>&rdquo;).</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 12.15pt; text-align: justify">&nbsp;</P></TD></TR>
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    <TD STYLE="padding-top: 4pt; font-weight: bold; text-align: center; font-size: 11pt">&nbsp;</TD>
    <TD STYLE="padding-top: 4pt"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 12.15pt; text-align: justify">Closing of the Offering, which is
expected on or about February 10, 2023 (the &ldquo;<B>Closing Date</B>&rdquo;), is subject to market and other customary conditions, including
approvals of the TSX Venture Exchange and the NYSE American.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 12.15pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 12.15pt; text-align: justify">The preliminary short form prospectus
for the Offering, and an amendment to the preliminary short form prospectus containing the definitive terms of the Offering have been
filed with the securities commissions or similar securities regulatory authorities in each of the provinces of Canada except Qu&eacute;bec.
A registration statement on Form F-10 relating to the Offering (including such prospectus) has also been filed with the U.S. Securities
and Exchange Commission (the &ldquo;<B>SEC</B>&rdquo;) for the Offering to which this material change report relates but has not yet become
effective; an amendment to such registration statement will also be filed, including an amendment to the short form prospectus for the
Offering (as amended, the &ldquo;<B>Registration Statement</B>&rdquo;). The preliminary short form prospectus (and any amendment thereto)
and the Registration Statement contain important detailed information relating to the Company and the Offering. The preliminary prospectus
for the Offering (and any amendment thereto) is still subject to completion and amendment. There will not be any sale or acceptance of
an offer to buy the securities until a receipt for the final prospectus has been issued and the Registration Statement becomes effective.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 12.15pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 12.15pt; text-align: justify">In addition, the Company filed a preliminary
short form prospectus to qualify 23,277,000 units (&ldquo;<B>Subscription Receipt Units</B>&rdquo;) of the Company to be issued up conversion
of 23,277,000 previously issued subscription receipts (the &ldquo;<B>Subscription Receipts</B>&rdquo;). The Subscription Receipts were
issued by the Company on December 6, 2022. The Subscription Receipt Units will be issued upon satisfaction of certain escrow release conditions
(the &ldquo;<B>Escrow Release Conditions</B>&rdquo;) including the satisfaction of each of the conditions precedent to the closing of
the Alta Mesa Acquisition (other than the payment of the cash portion of the consideration in connection the Alta Mesa Acquisition). Each
Subscription Receipt Unit will be comprised of one common share in the capital of the Company and one common share purchase warrant (a
&ldquo;<B>Subscription Receipt Warrant</B>&rdquo;). Each Subscription Receipt Warrant will entitle the holder thereof to purchase one
common share of the Company at a price of C$3.75 for a period of three (3) years following the satisfaction of the Escrow Release Conditions.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 12.15pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 12.15pt; text-align: justify">The Subscription Receipts and the
Subscription Receipt Units have not been, and will not be, registered under the U.S. Securities Act or any U.S. state securities laws,
and may not be offered or sold in the United States without registration under the U.S. Securities Act and all applicable state securities
laws or compliance with the requirements of an applicable exemption therefrom. This press release shall not constitute an offer to sell
or the solicitation of an offer to buy securities in the United States, nor shall there be any sale of these securities in any jurisdiction
in which such offer, solicitation or sale would be unlawful.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="font-weight: bold; text-align: center; font-size: 11pt">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 4pt; font-weight: bold; text-align: center; font-size: 11pt; width: 5%"><FONT STYLE="font-size: 10pt">6.</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">  </FONT><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-top: 4pt; width: 95%">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 12.6pt; text-align: justify"><FONT STYLE="text-transform: uppercase"><B><U>Reliance
    on subsection 7.1(2) of National Instrument 51-102</U></B></FONT></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 12.6pt; text-align: justify">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 12.45pt; text-align: justify"><FONT STYLE="font-weight: normal">Not
    applicable.</FONT></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 12.45pt; text-align: justify">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 4pt; font-weight: bold; text-align: center; font-size: 11pt"><FONT STYLE="font-size: 10pt">7.</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">  </FONT><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-top: 4pt">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 12.6pt; text-align: justify"><B><U>OMITTED INFORMATION</U></B></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 12.6pt; text-align: justify">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 12.45pt; text-align: justify">Not applicable.</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 12.45pt; text-align: justify">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 4pt; font-weight: bold; text-align: center; font-size: 11pt"><FONT STYLE="font-size: 10pt">8.</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">  </FONT><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-top: 4pt">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 12.6pt; text-align: justify"><B><U>EXECUTIVE OFFICER</U></B></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 12.6pt; text-align: justify">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 12.6pt; text-align: justify">William M. Sheriff, Executive Chairman</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 12.6pt; text-align: justify">Telephone: 972-333-2214</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 12.6pt; text-align: justify">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 4pt; font-weight: bold; text-align: center; font-size: 11pt"><FONT STYLE="font-size: 10pt">9.</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">  </FONT><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-top: 4pt">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 12.6pt; text-align: justify"><B><U>DATE OF REPORT</U></B></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 12.6pt; text-align: justify">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 12.6pt; text-align: justify">January 30, 2023</P></TD></TR>
  </TABLE>
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