Aldebaran increases bought deal offering to $35M

Executive Summary

• Aldebaran Resources Inc. has upsized its previously announced bought deal private placement to C$35 million due to strong investor demand, issuing 10,769,300 common shares at $3.25 per share.
• The underwriters hold an option to purchase up to 1,615,395 additional shares at the same price, potentially increasing gross proceeds by approximately $5.25 million.
• Net proceeds will fund a prefeasibility study for the Altar copper-gold project in Argentina and general working capital, with closing expected around Feb. 5, 2026, subject to regulatory approvals.

Key Details

• Offering Structure: Upsized bought deal private placement co-led by Cormark Securities Inc. and Red Cloud Securities Inc. as joint bookrunners on behalf of a syndicate.
• Share Quantity & Price: 10,769,300 common shares issued at $3.25 per share.
• Primary Gross Proceeds: $35,000,225.
• Underwriter Over-Allotment Option: Option to purchase up to 1,615,395 additional shares at $3.25/share for up to ~$5,250,034 in additional gross proceeds, exercisable in whole or in part prior to closing.
• Concurrent Private Placement: Shareholders with contractual anti-dilution rights may exercise these rights via a non-brokered private placement at the $3.25 issue price; closing expected simultaneously with the main offering.
• Use of Proceeds: Prefeasibility study on the Altar copper-gold project (San Juan province, Argentina) and general working capital.
• Regulatory & Listing Conditions: Subject to TSX Venture Exchange conditional acceptance and applicable Canadian/U.S. securities laws; shares issued under the listed issuer financing exemption in Canada carry no hold period.
• Closing Timeline: Expected on or about Feb. 5, 2026, with a mandatory deadline of the 45th day following the release date.
• Documentation: Amended and restated offering document available via SEDAR+ and the company’s website.
• Project Context: Altar project hosts multiple porphyry copper-gold deposits and is part of a cluster of world-class porphyry copper deposits in Argentina. Updated mineral resource estimate released Nov. 25, 2024.