Aldebaran Resources announces the increase of its private placement to $14.43 million

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VANCOUVER, British Columbia, Aug. 05, 2022 (GLOBE NEWSWIRE) — Aldebaran Resources Inc. (“Aldebaran“or the”Company”) (TSX-V: ALDE, OTCQX: ADBRF)is pleased to announce that its non-brokered private placement (the “Private placement”), previously announced on July 20, 2022, was increased to 18,500,000 ordinary shares (the “Ordinary actions”) at a price of $0.78 per common share for aggregate gross proceeds of $14,430,000.

On July 20, 2022, the Company announced a strategic investment by a wholly owned subsidiary of South32 Limited (“South32”) to acquire a 9.9% stake in Aldebaran. Current shareholders of the Company, Route One Investment Company LLC (“route one”) and Stillwater Canada LLC, a wholly owned subsidiary of Sibanye Stillwater Limited (“Sibanye-Stillwater”) both hold participation rights to avoid dilution.

Route One, Aldebaran’s largest shareholder, elected to partially exercise its participation right and purchase 4,800,000 common shares at a price of $0.78 per common share for total proceeds of $3,744,000. Sibanye-Stillwater chose not to exercise its right to participate.

With the increase in the private placement, South32 has agreed to increase its share purchase to 13,700,000 common shares at a price of $0.78 for total proceeds of $10,686,000.

Upon closing of the private placement, South32 will own approximately 9.9%, Route One will own approximately 44% and Sibanye-Stillwater will own approximately 17.6% of the company on a non-diluted basis. The Company will use the proceeds of the private placement to fund exploration activities at Altar.

The closing of this financing is expected to take place by mid-August and is subject to various conditions, including the approval of the TSX Venture Exchange. No finder’s fee is due in connection with this private placement.

Route One is a control person of the Company. Accordingly, Route One’s participation in the Private Placement constitutes a related party transaction under Multilateral Instrument 61-101 – Protection of holders of minority securities in special transactions (“MI 61-101”). The Company is exempt from the formal valuation and minority approval requirement under NI 61-101 as the fair market value of Route One’s participation in the Private Placement does not exceed more than 25% of capitalization Company’s stock exchange, as set forth in Sections 5.5(a) and 5.7(1)(a) of NI 61-101.

The Company will not file a material change report more than twenty-one (21) days before the expected closing date of the Private Placement, as the details of the Private Placement were not finalized until August 5, 2022 and the Company wishes to close the private placement as soon as possible.

The securities referred to in this press release have not been and will not be registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States or , or on behalf of or for the benefit of U.S. persons not registered in the United States or exempt from U.S. registration requirements. This press release does not constitute an offer to sell or a solicitation of offers to buy 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 on the issuer and its management, as well as financial statements.

For more information, please visit our website at www.aldebaranresources.com or contact:

John Black, CEO/Director
Telephone: +1 604 685-6800
E-mail: This email address is protected from spam. You need JavaScript enabled to view it.

About Aldebaran Resources Inc.

Aldebaran is a mining exploration company spun off from Regulus Resources Inc. in 2018 with the same management team. Aldebaran has the right to acquire up to an 80% interest in the Altar copper-gold project in the province of San Juan, Argentina from Sibanye Stillwater Limited. The Altar project hosts several porphyry copper-gold deposits with the potential for additional discoveries. Altar is part of a group of world-class porphyry copper deposits that 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 drilling completed up to 2020 inclusive.

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, many of which are beyond our control. of Aldebaran. 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 planned”, “budget” , “expected”, “estimates”, “plans”, “intends”, “anticipates” or “does not anticipate” or “believes” or variations of these words and expressions or statements that certain actions, events or results “could”, “could”, “could”, “could” or “will” be taken, occur or be carried out.

Specifically, and without limitation, any 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 anticipated closing and use of proceeds from the private placement, exploration and development of the Altar Project described herein, and management’s assessment of future plans and operations and statements regarding completion planned 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 or implied by such forward-looking statements. Although Aldebaran believes that the expectations expressed in these 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 undertakes no obligation to publicly update or revise any forward-looking statements or information, whether as a result of new information, events future or otherwise, except as required by applicable securities laws.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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