Aclara Resources appoints Juan Enrique Rassmuss to board of directors

Aclara Resources (ARAAF) appointed Juan Enrique Rassmuss to Aclara’s board of directors, as a nominee of CAP, following a unanimous approval by the members of the Board. The appointment of Mr. Rassmuss follows the recent completion of a private placement to certain investors, including CAP, at a price of C$0.70 per common share representing a 41% premium over the closing price prior to the announcement on the Toronto Stock Exchange. CAP currently holds 22,163,143 common shares representing 10.18% of the Company’s issued and outstanding common shares and has signed with the Company an investor rights agreement, granting CAP certain rights, including the ability to nominate one board member, subject to certain conditions being met. CAP’s recent investment in the Company comes after CAP’s April 2024 investment of US$29.1M in Aclara’s Chilean subsidiary REE Uno, acquiring a 20% stake. Since 2016, he has led his family’s companies in the mining, energy, and industrial sectors, bringing his vision and expertise to these fields. In December 2018, he became a member of the board of CAP, which he has chaired since May 2023, and in November 2019, he joined the board of Compania Minera del Pacifico