Aldebaran Resources and Centauri Minerals Announce Closing of $25 million Subscription Receipt Financing in Connection with Centauri Spin-Out

Aldebaran Resources Inc. (ALDE) announced that its majority-owned subsidiary, Centauri Minerals Inc., has closed a private placement of subscription receipts, generating aggregate gross proceeds of C$25,486,000. The financing structure includes a C$17,486,000 brokered offering and a C$8,000,000 non-brokered placement, with each subscription receipt priced at C$1.00.

The proceeds are currently held in escrow with Olympia Trust Company pending the completion of a planned spin-out arrangement. Subscription receipts will automatically convert into common shares once the escrow release conditions are satisfied. If these conditions are not met by September 30, 2026, a penalty clause mandates the issuance of 1.1 shares per receipt.

Aldebaran Resources Inc. stated that the funds are earmarked to advance exploration at the Rio Grande gold-copper project in Salta, Argentina, support other portfolio assets, and cover general corporate purposes. The common shares issuable upon exchange are expected to be listed on the TSX Venture Exchange.

Aldebaran Resources Inc. (ALDE) closed its financing on July 23, aligning with the company’s stated timeline for the week of July 20, 2026, following the initial announcement on July 6. The transaction serves as a routine follow-up to fund the Centauri spin-out and subsequent exploration activities, a capital requirement already known to the market.

The deal utilizes an escrow structure to mitigate execution risk, ensuring capital is preserved until the spin-out completes. A 1.1x penalty clause is included as a standard market mechanism to incentivize timely completion. This structure de-risks the spin-out process and ensures Centauri has immediate liquidity to commence drilling at Rio Grande in the second half of 2026.

While dilution is expected upon the conversion of subscription receipts, this is offset by the proportional distribution of Centauri shares to existing Aldebaran shareholders during the spin-out. The transaction does not alter the fundamental valuation of Aldebaran’s flagship Altar project or change the shareholder distribution mechanics.

Aldebaran Resources Inc. (ALDE) is a pre-revenue junior explorer focused on the Altar copper-gold project in San Juan Province, Argentina. The flagship Altar project hosts a 48-year mine life potential with a base-case NPV (8%) of US$2.0 billion and an IRR of 20.5% per the October 2025 PEA. The project features a 60,000 TPD concentrator, transitioning to underground block cave mining.

Aldebaran is spinning out its northern Argentina exploration portfolio, including Rio Grande, Aguas Calientes, and four greenfield projects, into Centauri Minerals. Aldebaran will retain an 80% interest in Altar and a ~41.78% stake in Centauri post-spin-out. The company is advancing from PEA to Pre-Feasibility Study (PFS) for Altar, while Centauri is preparing for a public listing in 2026.

Management is led by CEO John Black, who brings 35+ years of experience and served as former Antares Minerals president, and CGO Dr. Kevin Heather, who has 40+ years of Andes experience. The team has a proven track record of resource definition and project monetization.