TSX:ARA - Post Discussion
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Betteryear2 on Mar 13, 2024 7:12am
Aclara Announces up to US$80M Strategic Investment by Cap
TORONTO, ON / ACCESSWIRE / March 13, 2024 / Aclara Resources Inc. ("Aclara" or the "Company") (TSX:ARA) is pleased to announce that it has entered into an investment agreement with CAP S.A. ("CAP"), a publicly listed company on the Chilean Stock Exchange, pursuant to which, amongst other things, CAP will make a US$29 million strategic investment in REE Uno SpA ("REE Uno"), Aclara´s Chilean subsidiary, which owns the Penco Module (the "Investment Agreement"). Under the terms of the Investment Agreement, CAP also has an option to invest an additional US$50 million in REE Uno and a three-year option to subscribe a 19.9% interest in Aclara, and the parties have also agreed to form a joint venture company to develop metals and alloys for the rare earths permanent magnet industry (the "Transaction"). The Transaction reflects the parties' shared view that the future will require innovative mineral extraction methods, a strong focus on environmental and social sustainability, and the understanding that our planet requires cleanly produced rare earths metals in its urgent fight against climate change. Aclara Announces up to US$80M Strategic Investment by Cap in Its Chilean Subsidiary and an Option for an Equity Investment of up to 19.9% (accesswire.com)
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