{"id":8586,"date":"2022-07-20T14:05:17","date_gmt":"2022-07-20T14:05:17","guid":{"rendered":"https:\/\/marylanddailygazette.com\/aldebaran-announces-c10-3-million-strategic-investment-by-south32\/"},"modified":"2022-07-20T14:05:17","modified_gmt":"2022-07-20T14:05:17","slug":"aldebaran-announces-c10-3-million-strategic-investment-by-south32","status":"publish","type":"post","link":"https:\/\/marylanddailygazette.com\/aldebaran-announces-c10-3-million-strategic-investment-by-south32\/","title":{"rendered":"Aldebaran Announces C$10.3 Million Strategic Investment by South32"},"content":{"rendered":"
Aldebaran Announces C$10.3 Million Strategic Investment by South32<\/a><\/p>\n Not for Distribution to U.S. Newswire Services or Dissemination in the United States<\/em><\/p>\n VANCOUVER, British Columbia, July 20, 2022 (GLOBE NEWSWIRE) \u2014 Aldebaran Resources Inc. (\u201cAldebaran<\/strong>\u201d or the \u201cCompany<\/strong>\u201d) (TSX-V: ALDE, OTCQX: ADBRF)<\/strong>, is pleased to announce a C$10,296,000 non-brokered private placement (\u201cPrivate Placement\u201d) by a wholly-owned subsidiary of South32 Limited (\u201cSouth32\u201d), to advance the Company\u2019s Altar copper-gold project in San Juan, Argentina.<\/p>\n Highlights<\/strong><\/p>\n John Black, CEO of Aldebaran commented as follows: <\/strong>\u201cWe are pleased to welcome South32 as a strategic investor in the Company. The investment by South32, a diversified mining and metals company with operations and projects across the globe, is a strong endorsement of the Altar project. With this financing in place, we are well positioned for a substantial drill campaign at the Altar project starting in Q4 2022.\u201d<\/em><\/p>\n In connection with its investment, South32 will be granted certain participation and top-up rights, allowing South32 to maintain its equity interest so long as it maintains said interest at or above 9%. Additionally, South32 shall be allowed to nominate a director to the board of directors if it obtains a 12.5% equity interest in the Company. The Company and South32 have agreed to form a joint advisory committee to share expertise, exploration concepts and discuss exploration activities at the Altar project. South32 has also agreed to not dispose of any shares of Aldebaran for one year and to not acquire greater than a 19.9% equity interest for 18 months, subject to certain exceptions.<\/p>\n Closing of this financing is expected to occur on or about August 9th<\/sup>, 2022 and is subject to various conditions, including approval of the TSX Venture Exchange. No finder\u2019s fee is payable in connection with this financing.<\/p>\n 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<\/p>\n Webinar<\/strong> For further information, please consult our website <\/strong>at <\/strong>www.aldebaranresources.com<\/strong><\/a> or contact:<\/strong><\/p>\n\n
For more context, please join CEO John Black in a live event on July 21st<\/sup> at 2 pm EST \/ 11 am PST. Q&A will follow the brief presentation. Click here to register: https:\/\/my.6ix.com\/PuQoVMiO<\/a><\/p>\n