Aldebaran Announces Full Exercise of the Underwriters' Option and Provides Update on the Concurrent Private Placement

Executive Summary

• Aldebaran Resources exercised the full underwriters’ option, adding 1,615,395 shares at C$3.25 each and raising total offering proceeds to C$40.25 million.
• The company will also conduct a non‑brokered private placement of 1,538,462 shares for C$5.00 million, targeting new institutional investors while limiting participation by existing rights holders.
• Proceeds are earmarked to fully fund the Altar project through its pre‑feasibility study, improving liquidity and market visibility.

Key Details

• Underwriters’ Option Exercise: 1,615,395 common shares at C$3.25 per share → C$5,250,? (additional) raising total offering proceeds to C$40,250,259.
• Concurrent Private Placement: 1,538,462 common shares at C$3.25 per share → C$5,000,001.50 of gross proceeds.
• Hold Period: Shares issued in the private placement subject to a four‑month plus one day hold period under Canadian securities law.
• Closing Dates: Offering expected to close on February 5, 2026; Private placement expected to close mid‑February 2026.
• Use of Proceeds: Fully fund the Altar copper‑gold project through its pre‑feasibility study and related de‑risking activities.
• Rights Holders Participation: Company encouraged rights holders to limit participation to avoid excessive dilution; reliance on MI 61‑101 exemptions as issuance will not exceed 25% of market cap.
• Underwriters: Offering co‑led by ATB Cormark Capital Markets and Red Cloud Securities Inc.

Notable Quotes

“With these financings, we are fully funded to take the Altar project through the pre‑feasibility study… we are now well‑positioned to continue de‑risking the Altar project, thereby unlocking value for Aldebaran shareholders.” – John Black, CEO & Director

Materiality Assessment: Material – Positive (significant capital raise that directly funds a major development milestone).