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Hochschild's Aclara Resources receives approval for TSX listing

By Iain Gilbert

Date: Friday 03 Dec 2021

Hochschild's Aclara Resources receives approval for TSX listing

(Sharecast News) - Gold miner Hochschild said on Friday that its Aclara Resources had been approved for a listing on the TSX, where it expects to begin trading on 10 December.
Aclara will issue 35.0m shares in the company at a price of CAD $1.70 (£1.0) each in order to raise gross proceeds of CAD $59.5m (£34.93m), while Hochschild Mining and chairman Eduardo Hochschild's firm Pelham Investments, as well as certain other individuals, will purchase a further 39.35m shares at the offering price for a further CAD $66.90m (£39.28m).

Pelham also committed to purchase 9.86m shares as part of the offering, representing 28.2% of Aclara's common shares offered up.

Hochschild originally signalled its intention to demerge its rare earths unit back in October.

As of 0915 GMT, Hochschild shares were down 0.47% at 127.30p.

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