Source: Macarthur Minerals
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  • Aldebaran Resources Inc. (ALDE) has increased the size of its non-brokered private placement from C$5,000,000 to C$9,386,358
  • Aldebaran will issue 20,858,573 units at a price of $0.45 per unit
  • Proceeds will be used to fund the ongoing drill program at the Altar copper-gold project in Argentina
  • The offering is scheduled to close on or about May 3, 2021
  • Aldebaran is a mineral exploration company
  • Aldebaran Resources Inc. (ALDE) is up 2.08 per cent, trading at C$0.49 per share at 2 pm ET

Aldebaran Resources Inc. (ALDE) has increased the size of its previously announced non-brokered private placement.

The private placement has been increased from C$5,000,000 to C$9,386,358. Upon closing of the offering, Aldebaran will issue 20,858,573 units at a price of $0.45 per unit.

Each unit consists of one common share and one-half of one share purchase warrant. Each warrant will entitle the holder to purchase one additional common share at a price of $0.70 at any time until the second anniversary of the closing date of the offering.

Proceeds will be used to fund the ongoing drill program at the Altar copper-gold project in Argentina, and for general corporate purposes.

Aldebaran Resources is currently executing a drill program at Altar, targeting deeper extensions of known higher-grade mineralization. Aldebaran intends to continue to drill until the end of the field season, typically in May.

The offering is scheduled to close on or about May 3, 2021, and is subject to certain conditions including the receipt of all necessary approvals from the TSX Venture Exchange.

The company may pay a finder’s fee of up to 6% cash and 6% compensation warrants to qualified finders.

Certain insiders of Aldebaran will acquire securities in the offering.  Any such participation would be considered a “related party transaction” as defined under Multilateral Instrument 61-101.

Aldebaran is a 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 up 2.08 per cent, trading at C$0.49 per share at 2 pm ET.

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