News Formal

Aclara Resources Announces Investment Agreement with Chilean Conglomerate

  • 📰 mining
  • ⏱ Reading Time:
  • 4 sec. here
  • 9 min. at publisher
  • 📊 Quality Score:
  • News: 29%
  • Publisher: 53%

Business News

Aclara Resources,Investment Agreement,Chilean Conglomerate

Aclara Resources shares shot up to a near 52-week high on Wednesday after the rare earth elements (REE) developer announced an investment agreement with Chilean conglomerate CAP SA. CAP will make a strategic investment in REE Uno, Aclara’s Chilean subsidiary which owns the Penco module as well as all its mining concessions in the country, in exchange for a 20% equity participation in the REE unit. This initial capital, according to Aclara’s calculations, gives REE Uno a pre-money valuation of $116.5 million.

Aclara Resources shares surged after announcing an investment agreement with Chilean conglomerate CAP SA. CAP will make a strategic investment in Aclara's Chilean subsidiary, REE Uno, in exchange for a 20% equity participation.

The investment gives REE Uno a pre-money valuation of $116.5 million.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 449. in BUSİNESS
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Business Business Latest News, Business Business Headlines