Aldebaran Announces Closing of Strategic Investment by South32
August 12 2022 - 8:30AM
Aldebaran Resources Inc. (“
Aldebaran” or the
“
Company”)
(TSX-V: ALDE, OTCQX:
ADBRF), is pleased to announce it has completed its
previously announced non-brokered, $14.43 million private
placement, led by a strategic investment from a wholly-owned
subsidiary of South32 Limited (“
South32”) (see
news releases dated July 20, 2022 and August 5, 2022).
South32 acquired 13,700,000 common shares (the
“Common Shares”) at a price of $0.78 per Common
Share for total proceeds of $10,686,000. Route One Investment
Company LLC, Aldebaran’s largest shareholder, partially exercised
its participation right and acquired 4,800,000 Common Shares at a
price of $0.78 per Common Share for total proceeds of $3,744,000.
The Common Shares issued pursuant to the offering will be subject
to a hold period expiring on December 13, 2022 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.
For further information, please consult
our website at
www.aldebaranresources.com or
contact:
John Black, CEO / DirectorPhone: +1 604 685-6800
Email: info@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.
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 expected use of proceeds
of the Private Placement, 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.
Aldebaran Resources (TSXV:ALDE)
Historical Stock Chart
From Nov 2024 to Dec 2024
Aldebaran Resources (TSXV:ALDE)
Historical Stock Chart
From Dec 2023 to Dec 2024