Business
Aldebaran Resources Receives $6 Million From Warrant Exercise
VANCOUVER, British Columbia, May 05, 2023 (GLOBE NEWSWIRE) -- Aldebaran Resources Inc. (“Aldebaran” or the “Company”) (TSX-V: ALDE, OTCQX: ADBRF) reports that a
About this update from Aldebaran Resources Inc
[{"type":"text","content":" VANCOUVER, British Columbia, May 05, 2023 (GLOBE NEWSWIRE) -- Aldebaran Resources Inc. (“Aldebaran” or the “Company”) (TSX-V: ALDE, OTCQX: ADBRF) reports that a total of 8,588,334 warrants at $0.70 (the “Warrants”) have been exercised and the remaining 2,239,257 Warrants expired on May 3, 2023. The Warrants were issued as part of a private placement financing that closed in May 2021. This total includes the Warrants exercised by Route One Investment Company LLC and management, which was previously announced on March 30, 2023. The exercise of Warrants has raised proceeds of ~$6 million for the Company. The proceeds will be utilized to fund the current drilling program on the Altar copper-gold project in San Juan Province, Argentina, as well as 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 drilling completed up to and including 2020 (independent technical report prepared by Independent Mining Consultants Inc., Tucson, Arizona, titled \"Technical Report, Estimated Mineral Resources, Altar Project, San Juan Province, Argentina\", dated March 22, 2021 - see news release dated March 22, 2021). Forward-Lookin...