aldebaran capital

Aldebaran Announces Closing of $9,386,358 Private Placement Financing

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR RELEASE,
PUBLICATION, DISTRIBUTION OR DISSEMINATION DIRECTLY OR INDIRECTLY,
IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES

Aldebaran Resources Inc. (TSXV:ALDE) (" Aldebaran " or the " Company ") is pleased to announce that it has closed its previously announced non-brokered unit private placement offering (the " Offering "). An aggregate of 20,858,573 units (the " Units ") were sold under the Offering at a price of $0.45 per Unit for total gross proceeds of $9,386,358. Each Unit consists of one common share (" Common Shares ") in the capital of the Company and one-half of one warrant (each whole warrant, a " Warrant "). Each Warrant entitles the holder to purchase one additional Common Share at a price of $0.70 until May 3, 2023. All dollar amounts in this press release are expressed in Canadian currency.

The Company's two largest shareholders, being Sibanye Stillwater Limited (" Sibanye Stillwater ") and certain funds controlled by Route One Investment Company LLC (" Route One "), have each exercised their rights under their respective Investment Agreements with the Company to subscribe for their pro-rata share of the Offering. Route One currently owns approximately 46.34% of the outstanding Common Shares and Sibanye Stillwater owns approximately 19.90%. Management of the Company subscribed for approximately 5.33% of the Offering.

The proceeds of the Offering will be used towards the ongoing drill program at the Company's Altar copper-gold project in Argentina, and for general corporate purposes. The Company is currently executing a drill program at Altar, targeting deeper extensions of known higher-grade mineralization. The Company intends to continue to drill until the end of the field season, which is typically in May.

The Units were offered and sold by way of private placement exemptions in various provinces of Canada pursuant to applicable exemptions, and in the United States on a private placement basis pursuant to exemptions from the registration requirements of the United States Securities Act of 1933, as amended. An aggregate of $132,438 and 294,308 broker's warrants (issued on the same terms as the Warrants) was paid to certain finders, including Paradigm Capital Inc., in respect to portions of the Offering. All securities issued in connection with the Offering are subject to a four month hold period expiring on September 3, 2021.

As noted above, certain insiders of Aldebaran acquired securities in the Offering. Any such participation would be considered a "related party transaction" as defined under Multilateral Instrument 61-101. The Company is relying on certain exemptions in 61-101 based on the size of the Offering in connection therewith.

This news release does not constitute an offer to sell or a solicitation of an offer to buy the securities described herein in the United States. The securities described herein have not been and will not be registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States or to the account or benefit of a U.S. person absent an exemption from the registration requirements of such Act.

For further information, please consult our website at www.aldebaranresources.com or contact:

Laura Brangwin
Investor Relations Manager
Phone: +1 646 583-1404
Email: laura.brangwin@aldebaranresources.com

About Aldebaran Resources Inc.

Aldebaran is a mineral exploration company that was spun out of Regulus Resources Inc. in 2018 and has the same core management team. Aldebaran acquired the Rio Grande copper-gold project located in Salta Province, Argentina from Regulus along with several other early-stage projects in Argentina. Aldebaran also has the right to earn up to an 80% interest in the Altar copper-gold project in San Juan Province, Argentina from Sibanye Stillwater. The Altar project hosts multiple porphyry copper-gold deposits with potential for additional discoveries. Altar forms part of a cluster of world-class porphyry copper deposits which includes Los Pelambres (Antofagasta Minerals), El Pachon (Glencore), and Los Azules (McEwen Mining). A total of 259 drill holes (119,052 m) have been completed at Altar between 1995 and 2019. In March 2021 the Company announced an updated mineral resource estimate for Altar, prepared by Independent Mining Consultants Inc. and based on the drilling completed up to and including 2020. The Company is in the process of finalizing the NI 43-101 Technical Report and will file it on SEDAR once completed. Aldebaran's primary focus is the Altar project with a view to discovering new zones with higher-grade mineralization.

Forward-Looking Statements

Certain statements regarding Aldebaran, including management's assessment of future plans and operations, may constitute forward-looking statements under applicable securities laws and necessarily involve known and unknown risks and uncertainties, most of which are beyond Aldebaran's control.  Often, but not always, forward-looking statements or information can be identified by the use of words such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate" or "believes" or variations of such words and phrases or statements that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved.

Specifically, and without limitation, all statements included in this press release that address activities, events or developments that Aldebaran expects or anticipates will or may occur in the future, including the proposed exploration  and development of the Altar project described herein, the use of proceeds of the Offering, availability of exemptions from MI 61-101, management's assessment of future plans and operations and statements with respect to the completion of the Offering and anticipated exploration and development programs, may constitute forward-looking statements under applicable securities laws and necessarily involve known and unknown risks and uncertainties, most of which are beyond Aldebaran's control. These risks may cause actual financial and operating results, performance, levels of activity and achievements to differ materially from those expressed in, or implied by, such forward-looking statements.  Although Aldebaran believes that the expectations represented in such forward-looking statements are reasonable, there can be no assurance that such expectations will prove to be correct. The forward looking statements contained in this press release are made as of the date hereof and Aldebaran does not undertake any obligation to publicly update or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities law.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.


Primary Logo

News Provided by GlobeNewswire via QuoteMedia

The Conversation (0)
Aldebaran Resources

Aldebaran Resources

Unlocking A District of Copper-Gold Deposits in Argentina

Unlocking A District of Copper-Gold Deposits in Argentina Keep Reading...
Close-up of a map showing British Columbia with a red pin marking a location, text reads: British Columbia.

Highland Valley Copper Mine Workers Vote in Favor of Strike Action

Union workers at Highland Valley Copper mine near Logan Lake, British Columbia, have voted unanimously in favor of strike action, raising the possibility of labor disruptions at one of the province’s major copper mining operations.A total of 944 members of United Steelworkers Local 7619 voted... Keep Reading...
Closeup of a rough, metallic copper surface with reddish-brown and gray hues.

Copper Price Trends: Q3 2026 Review and Forecast

Copper prices climbed to record highs in Q3 as the market stayed tight.Expectations of US tariffs on refined copper drove momentum, drawing metal into Comex warehouses and draining stocks from overseas warehouses controlled by the London Metal Exchange (LME) and the Shanghai Futures Exchange... Keep Reading...
Vertical copper sticks arranged unevenly in a row, on a white background.

Ivanhoe Electric Reportedly in Talks to Sell US Copper

Ivanhoe Electric (TSX:IE,NYSEAMERICAN:IE) is reportedly in advanced talks to sell copper from its Santa Cruz project in Arizona, and those deals could help fund construction of the mine.President and CEO Taylor Melvin said in an interview last week that offtake agreements with prospective buyers... Keep Reading...
Spools of copper wire.

Top 5 Junior Copper Stocks on the TSXV in 2026

Junior copper stocks are seeing significant support from the copper supply and demand story in 2026 as companies look to make the next big discovery of the red metal.Copper prices were elevated throughout the first half of 2026 as supply constraints continue to evolve.Although disruptions that... Keep Reading...
Codelco Halts El Teniente Mine After Landslide Kills Two

Codelco Halts El Teniente Mine After Landslide Kills Two

Operations at the open-pit portion of Chile’s El Teniente copper mine have been suspended following a rain-triggered landslide on Sunday that killed two contractors and left another injured.The state-owned mining company, Codelco, confirmed the fatalities at its flagship operation, which sits... Keep Reading...
Hand holding phone with Ivanhoe Mines logo; website in the background.

Ivanhoe's Q3 Copper Output Rises, but Yearly Target Slips

A 30 percent surge in underground mining rates lifted Ivanhoe Mines' (TSX:IVN,OTCQX:IVPAF) third-quarter copper production to 76,401 metric tons, though the company anticipates its full-year output will settle at the lower end of its 2026 guidance.Excavation rates across the complex now exceed... Keep Reading...

Interactive Chart

Latest Press Releases

Related News