Aldebaran Resources Inc.
("
Aldebaran" or the
"
Company"
, ALDE TSX.V) is pleased
to announce that it has increased the size of its previously
announced non-brokered private placement of units (the
"
Offering") from $5,000,000 to $9,386,358. Upon
closing of the Offering, the Company will issue 20,858,573 units
("
Units") at a price of CAD$0.45 per Unit. Each
Unit will consist of one common share of the Company (a
"
Common Share") and one-half of one share purchase
warrant (each whole warrant, a "
Warrant"). Each
Warrant will entitle the holder to purchase one additional Common
Share at a price of $0.70 until the second anniversary of the
closing date of the Offering.
The proceeds of the Offering will be used
towards the ongoing drill program at the Company’s Altar
copper-gold project in Argentina, and for general corporate
purposes. The Company is currently executing a drill program at
Altar, targeting deeper extensions of known higher-grade
mineralization. The Company intends to continue to drill until the
end of the field season, which is typically in May.
The Offering is scheduled to close on or about
May 3, 2021, and is subject to certain conditions including, but
not limited to, the receipt of all necessary approvals of the TSX
Venture Exchange. The Units to be issued under this Offering will
be offered by way of private placement exemptions in various
provinces of Canada as well as outside of Canada, pursuant to
applicable exemptions and in the United States on a private
placement basis pursuant to exemptions from the registration
requirements of the United States Securities Act of 1933, as
amended. The Company may pay a finder’s fee of up to 6% cash and 6%
compensation warrants to qualified finders in respect of portions
of the Offering.
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. The Company is relying on certain
exemptions in 61-101 based on the size of the Offering in
connection therewith.
The securities referred to in this news release
have not been, nor will they be, registered under the United States
Securities Act of 1933, as amended, and may not be offered or sold
within the United States or to, or for the account or benefit of,
U.S. persons absent U.S. registration or an applicable exemption
from the U.S. registration requirements. This release does not
constitute an offer for sale of, nor a solicitation for offers to
buy, any securities in the United States. Any public offering of
securities in the United States must be made by means of a
prospectus containing detailed information about the issuer and its
management, as well as financial statements.
For further information, please consult our website
at www.aldebaranresources.com or contact:
Laura BrangwinInvestor Relations ManagerPhone: +1
646 583-1404Email: laura.brangwin@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 acquired the Rio Grande copper-gold
project located in Salta Province, Argentina from Regulus along
with several other early-stage projects in Argentina. Aldebaran
also has the right to earn up to an 80% interest in the Altar
copper-gold project in San Juan Province, Argentina from Sibanye
Stillwater. 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 Pachon
(Glencore), and Los Azules (McEwen Mining). A total of 259 drill
holes (119,052 m) have been completed at Altar between 1995
and 2019. 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. The Company is in the process of finalizing the NI
43-101 Technical Report and will file it on SEDAR once completed.
Aldebaran’s primary focus is the Altar project with a view to
discovering new zones with higher-grade mineralization.
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.
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, the use of proceeds of the Offering, availability of
exemptions from MI 61-101, management's assessment of future plans
and operations and statements with respect to the completion of the
Offering, completion of a new resources estimate and 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.
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