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  • Aldebaran Resources Inc (ALDE) has announced a non-brokered private placement offering
  • The offering consists of 11,111,111 units at C$0.45 per unit
  • Each unit will consist of one common share and one-half of one warrant
  • Each warrant will entitle the holder to purchase one additional common share for  $0.70
  • Proceeds will be used towards the ongoing drill program at the company’s Altar copper-gold project in Argentina, and for general corporate purposes
  • Aldebaran is a Canadian mineral exploration company
  • Aldebaran Resources Inc (ALDE) is trading at $0.51 per share at 10 am ET

Aldebaran Resources Inc (ALDE) has announced a non-brokered private placement offering.

The offering consists of 11,111,111 units at C$0.45 per unit with total proceeds of up to $5,000,000. Each unit will consist of one common share and one-half of one warrant.

Each warrant will entitle the holder to purchase one additional common share for  $0.70 until the second anniversary of the closing date.

Aldebaran's two largest shareholders, Route One Investment Company LLC and Sibanye Stillwater Limited have each indicated that they intend to subscribe for their pro-rata share of the offering, Sibanye-Stillwater’s subscription being subject to internal approval procedures.

Route One currently owns approximately 47.58 per cent of the outstanding shares of the Company and Sibanye owns approximately 19.90 per cent.

Members of Aldebaran's management team have indicated that they intend to participate in the offering as well.

Proceeds will be used towards the ongoing drill program at the company’s Altar copper-gold project in Argentina, and for general corporate purposes. 

The offering is scheduled to close on or about April 29, 2021, and is subject to certain conditions including the receipt of all necessary approvals of the TSX Venture Exchange.

The company may pay a finder’s fee of up to 6 per cent cash and 6 per cent compensation warrants to qualified finders in respect of portions of the offering.

Aldebaran is a Canadian mineral exploration company. 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 Resources Inc (ALDE) is trading at $0.51 per share at 10 am ET.

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