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Aldebaran, Centauri Close C$25M Financing for Argentina Spin-Out
Aldebaran Resources and Centauri Minerals closed C$25.5M in subscription receipt financing for Centauri's spin-out, funding the Rio Grande gold-copper project in Argentina.
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Aldebaran Resources and Centauri Minerals closed a C$25.5 million subscription receipt offering tied to Centauri's planned spin-out, with proceeds earmarked for the Rio Grande gold-copper project in Argentina.
The financing combined a C$17.5 million brokered tranche led by TD Securities, with ATB Cormark, Canaccord Genuity and National Bank Financial participating, plus a C$8 million non-brokered placement. Investors paid C$1 per subscription receipt.
The money sits in escrow with Olympia Trust pending conditions tied to the spin-out, which Aldebaran and Centauri announced June 1. Each receipt converts to one Centauri common share when the escrow conditions clear. If the deal does not close by Sept. 30, holders get 1.1 shares instead. If the arrangement falls apart entirely or misses a 120-day deadline, the cash goes back to investors pro rata.
The agents earned a 6% cash commission on the brokered portion. No commission was paid on the non-brokered tranche.