Business
CAP S.A. Announces Subscription for Shares of Aclara Resources Inc.
CAP S.A. (SSE: CAP) ("CAP") has entered into a subscription agreement (the "Agreement") with Aclara Resources Inc. ("Aclara"), a Toronto Stock Exchange ("TSX") listed issuer pursuant to which CAP has agreed to purchase 9,686,220 common shares of Aclara (the "Shares") at a purchase price of C$2.83 per Share, being US$20,000,001.89 in the aggregate. Completion of the subscription is subject to customary conditions precedent, including approval by Aclara's shareholders and the TSX.
About this update from Cap S.a.
[{"type":"text","content":"SANTIAGO, Chile, March 19, 2026 /CNW/ - CAP S.A. (SSE: CAP) ("CAP") has entered into a subscription agreement (the "Agreement") with Aclara Resources Inc. ("Aclara"), a Toronto Stock Exchange ("TSX") listed issuer pursuant to which CAP has agreed to purchase 9,686,220 common shares of Aclara (the "Shares") at a purchase price of C$2.83 per Share, being US$20,000,001.89 in the aggregate. Completion of the subscription is subject to customary conditions precedent, including approval by Aclara's shareholders and the TSX.","length":582,"tagName":"p"},{"type":"text","content":"Aclara intends to seek shareholder approval at it annual general and special meeting to be held on May 7, 2026. Completion will occur in two tranches, the first tranche (as to 8,031,479 Shares) is anticipated to close on or around March 31, 2026 and the second tranche (as to 1,654,741 Shares) is anticipated to close on or around May 12, 2026, following the Issuer's shareholder meeting (assuming approval of the Issuer's shareholders). Upon completion of the subscription CAP will hold 31,849,363 Shares, being approximately 12.92% of the issued and outstanding Shares (calculated on a non-diluted basis). CAP presently holds 22,163,143 Shares, being approximately 10.07% of the issued and outstanding Shares, calculated on a non-diluted basis.","length":754,"tagName":"p"},{"type":"text","content":"CAP is a Chilean publicly traded company and one of the most significant mining-industrial conglomerates in that country. Through its operating subsidiaries, it has a presence throughout Chile and operates in critical sectors of the economy, carrying out activities in three major segments: mining, industrial, and infrastructure.","length":330,"tagName":"p"},{"type":"text","content":"CAP also has an international footprint, with operations in Argentina and Peru, and its products are distributed across various regions, reaching markets in the Americas, Asia, and Oceania.","length":189,"tagName":"p"},{"type":"text","content":"The acquisition of the Shares falls within the framework of the alliance established between the two companies in March 2024. Under this agreement, the Chilean company committed to entering the production of rare earth elements and value-added products in Chile, as well as securing the righ...