Aclara Resources (ARAAF) announced that U.S. International Development Finance Corporation has committed up to $5,000,000 in project development funding for the Company’s Carina heavy rare earths project in Goias, Brazil. Pursuant to the terms of DFC’s funding, the Project Development Funds may be converted into equity of the Company upon the Company completing a single financing event of more than $50M, or multiple financing events totaling at least $75M within a period of twelve months, for the construction of the Carina Project. Upon the Financing Event, DFC will also have a preferential option to be mandated to directly provide and/or arrange for financing or investment in the Carina Project. The strategic investment provided under DFC’s Project Development Program will primarily fund a feasibility study for the Carina Project. The feasibility study, which was initiated in July 2025 and is expected to be completed by the end of Q1 2026, is being conducted by Hatch as a continuation of the pre-feasibility study scheduled for release in September 2025. The Carina Project is projected to commence operations in 2028. DFC is the U.S. Government’s development finance institution that partners with the private sector to mobilize capital for strategic investments around the world. The Project Development Funds will be released over the course of the preparation of the feasibility study and will be based on the achievement of milestones forming integral parts of the feasibility study. No interest is payable on the Project Development Funds, and the repayment of the Project Development Funds may be triggered by DFC upon the Company achieving the Financing Event for the construction of the Carina Project. No security interest will be granted by the Company in connection with the Project Development Funds.
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