Aldebaran Resources closes top-up financing by South32

Aldebaran Resources completed its previously announced top-up financing with a subsidiary of South32. South32 elected to exercise its anti-dilution rights to maintain a 9.9% equity interest in the Company following the exercise of warrants announced on May 5, 2023. South32 acquired 970,000 common shares at a price of $0.73 per Common Share for total proceeds of $708,100. In accordance with the terms of the Investor Rights Agreement between the Company and South32, the issue price was set at the volume weighted average price of the Common Shares in the five day period preceding the election notice by South32. The Common Shares issued pursuant to this financing will be subject to a four month hold period in accordance with applicable securities laws. Aldebaran intends to use the funds to advance the Altar copper-gold project located in San Juan, Argentina, and for general corporate purposes.