On February 19, 2025, CAP S.A., a major Chilean holding company in the mining and steel sectors, completed its US$10.8 million strategic investment in Aclara Resources Inc. as part of Aclara’s US$25 million non-brokered private placement financing. Aclara is a rare earth element exploration company listed on the Toronto Stock Exchange. Upon closing of this financing, CAP acquired holdings of approximately 10.18% of the share capital of Aclara and concurrently entered into an investor rights agreement pursuant to which CAP gained the right to nominate one individual to Aclara’s board of directors as well as certain additional rights to maintain its current percentage interest in Aclara’s share capital or increase its holdings to 19.9% of Aclara’s share capital on a non-diluted basis.
Cassels acted for CAP.