Aldebaran Announces Closing of Top-Up Financing by South32
14 Juin 2023 - 1:25PM
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: info@aldebaranresources.com
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at www.aldebaranresources.com or
contact:
Ben CherringtonManager, Investor RelationsPhone: +1 347 394-2728
or +44 7538 244 208Email:
ben.cherrington@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 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-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, and management's
assessment of future plans and operations and statements with
respect to the completion of the 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.
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