Aldebaran Resources Inc. announced a non-brokered private placement of 13,200,000 common shares at a price of CAD 0.78 per common share for gross proceeds of CAD 10,296,000 on July 20, 2022. The transaction will include participation from new investor, South32 Limited. Upon closing of the transaction, South32 will own approximately 9.9% of company's issued and outstanding common shares on a non-diluted basis.

The company is expected to close the offering on or about August 9, 2022, and is subject to various conditions, including approval of the TSX Venture Exchange. No finder's fee is payable in connection with this offering.