Aldebaran Resources (TSX-V:ALDE) and majority-owned subsidiary Centauri Minerals have closed a C$25.49 million ($25.96 million) subscription receipt financing ahead of Centauri’s planned spinout.
The financing comprised a brokered placement of 17.49 million subscription receipts for C$17.49 million and a non-brokered placement of eight million receipts for C$8 million. Both were priced at C$1 per receipt.
TD Securities acted as lead agent and sole bookrunner for the brokered placement, alongside ATB Cormark Capital Markets, Canaccord Genuity (TSX:CF), and National Bank Financial.
The proceeds have been placed in escrow with Olympia Trust, a subsidiary of Olympia Financial Group (TSX:OLY). Their release is conditional on completion of the proposed arrangement and approval to list Centauri’s common shares on the TSX Venture Exchange (TSX-V), among other requirements.
Each subscription receipt will convert into one freely tradeable Centauri share once the conditions are satisfied or waived. If this does not occur by 30 September 2026, holders will instead become entitled to 1.1 shares per receipt.
The escrowed funds will be returned if the conditions remain outstanding 120 days after 22 July 2026, unless holders approve an extension, or if the spinout is terminated.
Centauri plans to use the proceeds for exploration at the Rio Grande Gold–Copper Project in Argentina’s Salta province, work across its other assets, and general corporate purposes.
The private company holds a 100% interest in projects covering approximately 40,000 hectares across Salta, Jujuy, and Catamarca provinces. Centauri describes Rio Grande as its most advanced project, which hosts a National Instrument 43-101-compliant mineral resource estimate.
Aldebaran says the spinout is intended to separate its northern Argentina exploration portfolio from its 80%-owned Altar Copper-Gold Project in San Juan province. The company completed a preliminary economic assessment for Altar in October 2025.
Write to France Pinzon at Mining.com.au
Images: Aldebaran Resources
