Business
Aldebaran Resources Announces Closing of Top-Up Financing by South32
VANCOUVER, British Columbia, June 14, 2023 (GLOBE NEWSWIRE) -- Aldebaran Resources Inc. (“Aldebaran” or the “Company”) (TSX-V: ALDE, OTCQX: ADBRF), is pleased t
About this update from Aldebaran Resources Inc
[{"type":"text","content":" VANCOUVER, British Columbia, June 14, 2023 (GLOBE NEWSWIRE) -- Aldebaran Resources Inc. (“Aldebaran” or the “Company”) (TSX-V: ALDE, OTCQX: ADBRF), is pleased to announce it has completed its previously announced top-up financing with a subsidiary of South32 Limited (“South32”). South32 elected to exercise its anti-dilution rights to maintain a 9.9% equity interest in the Company following the exercise of warrants announced on May 5, 2023. South32 acquired 970,000 common shares (the “Common Shares”) at a price of $0.73 per Common Share for total proceeds of $708,100. In accordance with the terms of the Investor Rights Agreement between the Company and South32, the issue price was set at the volume weighted average price of the Common Shares in the five day period preceding the election notice by South32. The Common Shares issued pursuant to this financing will be subject to a four month hold period in accordance with applicable securities laws. Aldebaran intends to use the funds to advance the Altar copper-gold project located in San Juan, Argentina, and for general corporate purposes. ON BEHALF OF THE ALDEBARAN BOARD (signed) “John Black” John BlackChief Executive Officer and DirectorTel: +1 (604) 685-6800Email: [email protected] Please click here and subscribe to receive future news releases: https://aldebaranresources.com/contact/subscribe/ For further information, please consult our website at www.aldebaranresources.com or contact: Ben CherringtonManager, Investor RelationsPhone: +1 347 394-2728 or +44 7538 244 208Email: [email protected] 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 has the right to earn up to an 80% interest in the Altar copper-gold project in San Juan Province, Argentina from Sibanye Stillwater Limited. 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 Pachón (Glencore), and Los Azules (McEwen Copper). In March 2021 the Company announced an updated mineral resource estimate for Altar, prepared by Independent Mining Consultants Inc. and based on the dr...