Aldebaran Announces South32 Has Elected to Exercise Its Top-Up Right to Maintain A 9.9% Equity Interest
VANCOUVER, British Columbia, May 18, 2023 (GLOBE NEWSWIRE) — Aldebaran Resources Inc. (“Aldebaran” or the “Company”) (TSX-V: ALDE, OTCQX: ADBRF) reports that a wholly owned subsidiary of South32 Limited (“South32”) has elected to exercise its top-up right to maintain a 9.9% equity interest in Aldebaran. This top-up right resulted from the warrant exercise that was announced on May 5, 2023, which diluted South32 below its 9.9% position. Under the terms of the Investor Rights Agreement between Aldebaran and South32, the subscription price for this top-up is equal to the five-day volume weighted average price prior to South32 notifying the Company of its decision to exercise its right. The net result is that South32 will acquire 970,000 common shares at a price of $0.73 for gross proceeds to the Company of CAD$708,100.
Related news for (ADBRF)
- Aldebaran Intercepts 742.90 m of 0.69% CuEq, Within 1,229.50 m of 0.55% CuEq at the Altar Project
- Aldebaran Intercepts 919.55 m of 0.66% CuEq, Within 1,517.00 m of 0.55% CuEq
- Aldebaran Intercepts 649.60 m of 0.81% CuEq Within 1,018.60 m of 0.60% CuEq, at the Altar Project
- Aldebaran to Host Investor Day on May 29, 2024
- Aldebaran Expands Known Mineralization at the Altar Copper-Gold Project