TORONTO, Feb. 25, 2022 /CNW/ - Aclara Resources Inc. ("Aclara" or the "Company") (TSX: ARA) is pleased to announce that the Company will be participating in BMO Capital Markets' 31st Global Metals & Mining Conference from February 27 to March 2, 2022 in Hollywood, Florida.
Ramon Barua, CEO, and Francois Motte, CFO, will be available in-person for meetings throughout the conference to discuss recent positive developments in the price of rare earth mineral resources and Aclara's business plans for the Penco Module (defined below), the Company's heavy rare earths development project located in Chile.
Having successfully completed an initial public offering on the Toronto Stock Exchange and a concurrent private placement on December 10, 2021 for aggregate gross proceeds of $126.3 million, Aclara is well funded to advance the exploration and development of, and to complete a feasibility study on, the Penco Module in 2022, as well as to carry out other activities related to exploration, permitting processes and engineering in connection with potential new modules.
A copy of our updated investor presentation will be made available on our website at www.aclara-re.com
About Aclara
Aclara is a development-stage rare earth mineral resources company located in Chile. Aclara is initiating the development of its resources through a project called the Penco Module (the "Penco Module"), which covers a surface area of approximately 600 hectares and which has ionic clays that are rich in rare earth elements. Aclara is currently focused on the development and on the future construction and operation of the Penco Module, which will aim to produce a rare earth concentrate through a processing plant that will be fed by clays from nearby deposits. Aclara's unique extraction process offers several advantages such as: no blasting, crushing or milling required; no tailings dam; minimal water consumption due to a high level of water recirculation; amenable leaching with a fertilizer; and no radioactivity.
Forward-Looking Statements
This news release contains "forward-looking information" within the meaning of applicable securities legislation, which reflects the Company's current expectations regarding future events, including statements with regard to advancing the exploration and development of the Penco Module, the exploration of potential new modules and the completion of a feasibility study on the Penco Module. Forward-looking information is based on a number of assumptions and is subject to a number of risks and uncertainties, many of which are beyond the Company's control. Such risks and uncertainties include, but are not limited to the factors discussed under "Risk Factors" in the Company's final prospectuses each dated December 2, 2021 filed on the Company's SEDAR profile. Actual results could differ materially from those projected herein. Unless otherwise noted or the context otherwise indicates, the forward-looking information contained in this news release is provided as of the date of this news release and the Company does not undertake any obligation to update such forward-looking information, whether as a result of new information, future events or otherwise, except as expressly required under applicable securities laws.
SOURCE Aclara Resources Inc.
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