Aclara Announces Appointment of New Director
ACLARA ANNOUNCES APPOINTMENT OF NEW DIRECTOR
TORONTO, ON, March 13, 2025 – Aclara Resources Inc. (“Aclara” or the “Company”) (TSX: ARA) is pleased
to announce the appointment of Juan Enrique Rassmuss to Aclara’s board of directors (the “ Board”), as a
nominee of CAP S.A. (“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 (the “Private Placement”). 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 (IRA), 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$29.1 million in Aclara’s Chilean subsidiary
REE Uno, acquiring a 20% stake.
Eduardo Hochschild, Chairman of Aclara, commented: “We are very excited to welcome Juan Enrique to the
Aclara Board due to his extensive leadership experience, recognized international career, and expertise in key
sectors like mining, energy, and industry. His roles on the boards of major companies such as CAP S.A. and
Compañía Minera del Pacifico S.A., main producer of iron ores and pellets on the American Pacific coas t,
demonstrate his vision, strong leadership skills and understanding of complex industries. His involvement with
non-profit organizations like Endeavor Chile, Fundación Encuentros del Futuro and Fundación Rassmuss
highlights his commitment to sustainable development, education, and innovation , which also fully align with
Aclara. His contribution will be invaluable as Aclara aims to become an independent provider of a vertically
integrated supply chain for sustainable rare earths alloys used in permanent magnets."
Juan Enrique Rassmuss, president of CAP, added: “It is an honor for me to join Aclara's board of directors and
continue to deepen CAP’s commitment to rare earths, critical materials for decarbonization, hand in hand with a
leading group like Hochschild. We are confident that by working together we will continue to pursue our goal of
making the company an integrated producer of heavy rare earths”.
Mr. Rassmuss pursued his studies in Industrial Civil Engineering at the Pontifical Catholic University of Chile,
with a distinguished international career spanning Germany, Argentina, Brazil, Peru, and Paraguay. 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 Compañía Minera del Pacífico ( “CMP”). In
addition to his business ventures, Mr . Rassmuss serves as an ambassador for Endeavor Chile, leading
community of high impact entrepreneurs in the world , driven by his passion for promoting entrepreneurship
as a catalyst for development. He is also a board member of Fundación Encuentros del Futuro, a non-profit
organization committed to making knowledge accessible through scientific dissemination, collaborating with
universities, the Chilean Academy of Sciences, and public and private sectors to influence public policies .
Furthermore, he is the director and founder of Fundación Rassmuss, where they implement comprehensive
solutions to issues in education and health, collaborating with strategic partners.
About Aclara
Aclara Resources Inc. (TSX: ARA), a Toronto Stock Exchange listed company, is focused on building a
vertically integrated supply chain for rare earths alloys used in permanent magnets. This strategy is supported
by Aclara’s development of rare earth mineral resources hosted in ionic clay deposits, which contain high
concentrations of the scarce heavy rare earths, providing the Company with a long -term, reliable source of
these critical materials. The Company’s rare earth mineral resource development projects include the Carina
Project in the State of Goiás, Brazil as its flagship project and the Penco Module in the Biobío Region of Chile.
Both projects feature Aclara’s patented technology named Circular Mineral Harvesting, which offers a
sustainable and energy -efficient extraction process for rare earths from ionic clay deposits. The Circular
Mineral Harvesting process has been designed to minimize the water consumption and overall environmental
impact through recycling and circular economy principles. Through its wholly -owned subsidiary, Aclara
Technologies Inc., the Company is further enhancing its product value by developing a rare earths separation
plant in the United States. This facility will process mixed rare earth carbonates sourced from Aclara’s mineral
resource projects, separating them into pure individual rare earth oxides. Additionally, Aclara through a joint
venture with CAP , is advancing its alloy -making capabilities to convert these refined oxides into the alloys
needed for fabricating permanent magnets. This joint venture leverages CAP’s extensive expertise in metal
refining and special ferro -alloyed steels . Beyond the Carina Project and the Penco Module, Aclara is
committed to expanding its mineral resource portfolio by exploring greenfield opportunities and further
developing projects within its existing concessions in Brazil, Chile, and Peru, aiming to in crease future
production of heavy rare earths.
About CAP
CAP is an emblematic Chilean mining -industrial company, listed on the Santiago Stock Exchange, which has
been a key player in the country's business history for almost eighty years. With a national and international
presence, it has a diversified business portfolio, which it will continue to strengthen through the search for
new innovative and sustainable solutions in the long term. Its portfolio is currently focused on iron ore mining,
through CMP; on the development of industrialized and sustainable housi ng solutions, through Cintac,
Tupemesa and Promet; and on Infrastructure, through Aguas CAP , Tecnocap and Puerto Las Losas ,
encompassing desalination operations, port infrastructure, and electricity transmission.
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, among other things, the Compan y’s expectations as a result of changes to the Board of the
Directors. 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 unc ertainties
include, but are not limited to, the factors discussed under “Risk Factors” in the Company’s annual information
form dated as of March 22, 20234 filed on the Company’s SEDAR+ profile. Actual results, timing, performance,
achievements or future events or developments could differ materially from those expressed or implied
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.
For further information, please contact:
Ramon Barúa
Chief Executive Officer