Aclara Resources Inc. Files Preliminary Prospectus for Initial Public Offering of Common Shares

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TORONTO, Oct. 19, 2021 /CNW/ - Aclara Resources Inc. ("Aclara" or the "Company") announced today that it has filed a preliminary prospectus (the "Preliminary Prospectus") with the securities regulatory authorities in each of the provinces and territories of Canada, other than Quebec, for a proposed initial public offering (the "Offering") of common shares of the Company (the "Common Shares"). The number of Common Shares to be sold and the price per Common Share have not yet been determined.

The Offering is being made through a syndicate of underwriters led by RBC Dominion Securities Inc. and Canaccord Genuity Corp., as joint bookrunners.

Stikeman Elliott LLP is acting as legal counsel to Aclara and Blake, Cassels & Graydon LLP is acting as legal counsel to the underwriters.

The Preliminary Prospectus contains important information relating to the Offering, has been filed with the securities regulatory authorities in each of the provinces and territories of Canada, other than Quebec, and is still subject to completion or amendment. The Preliminary Prospectus is available under Aclara's profile on SEDAR at www.sedar.com. There will not be any sale or any acceptance of an offer to buy the Common Shares in any province or territory of Canada until a receipt for the final prospectus has been issued.

No securities regulatory authority has either approved or disapproved of the contents of this news release. This news release does not constitute an offer to sell or a solicitation of an offer to buy any securities of Aclara in any jurisdiction in which such offer, solicitation or sale would be unlawful.

The Common Shares have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or the securities laws of any state of the United States (as such term is defined in Regulation S under the U.S. Securities Act) and may not be offered, sold or delivered, directly or indirectly, in the United States, except to Qualified Institutional Buyers (as such term is defined in Rule 144A of the U.S. Securities Act) pursuant to an exemption from the registration requirements of the U.S. Securities Act and applicable state securities laws.

About Aclara

Aclara is a development-stage rare earth mineral resources company with 451,585 hectares of mining concessions located in the Maule, Ñuble, Biobío and Araucanía regions of Chile. Aclara is initiating the development of its resources through a project called the Penco Module (the "Penco Module"), which covers a surface area of approximately 600 hectares and which has ionic clays that are rich in rare earth elements. Aclara is currently focused on the development and on the future construction and operation of the Penco Module, which will aim to produce a rare earth concentrate through a processing plant that will be fed by clays from nearby deposits. In addition to the Penco Module, Aclara will conduct exploration activities in order to determine if there are deposits within its other mining concessions that can be developed economically and with an adequate environmental footprint.

Forward-Looking Statements

This news release may contain forward-looking information within the meaning of applicable securities laws, which reflects the Company's current expectations regarding future events. 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 uncertainties include, but are not limited to, failure to complete the Offering and the factors discussed under "Risk Factors" in the Preliminary Prospectus. Actual results could differ materially from those projected herein. 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.

SOURCE Aclara Resources Inc.

Mauricio Alvarez, General Counsel, [email protected]