VANCOUVER, British Columbia, Aug. 30, 2018 (GLOBE NEWSWIRE) -- Regulus Resources Inc. (TSXV:REG) (“ Regulus ” or the “ Company ”) is pleased to announce that it has mailed out the materials for the shareholder meeting to be held on September 21, 2018 in connection with the proposed plan of arrangement (the “ Arrangement ”) among Regulus, Sibanye Gold Ltd. (“ Sibanye ”) and Aldebaran Resources Inc. (“ Aldebaran ”). Aldebaran is a recently formed company that will acquire the Argentina projects currently owned by Regulus and will also be party to a joint venture and option agreement with Sibanye whereby Aldebaran can earn up to an 80% interest in the Altar copper gold project, also in Argentina. Each shareholder of Regulus will receive one share of Aldebaran for every three Regulus shares held as of the effective date of the Arrangement. See the Company’s press release dated June 29, 2018 for a more complete summary of the proposed transaction. The shareholder meeting materials have also been filed on the Company’s SEDAR profile. Materials have also been filed and mailed for the warrant holders meeting to be held at the same time.
The Company also announces that it has received approximately $2.16 million from the exercise of 1.35 million warrants since June 29, 2018. The Company has also entered into short term loan agreements with certain directors and officers for a total of $1.56 million. The loans are unsecured, bear interest at the rate of 10% per annum and are repayable on September 30, 2018 unless otherwise agreed to by the parties. The proceeds from the ongoing warrant exercises and loans will enable the Company to continue its current drill program at the AntaKori copper-gold project in Peru pending closing of the $20,140,000 financing announced by the Company on August 22, 2018. The Company expects to repay the loans before the due date from the proceeds of the ongoing warrants exercises.
For further information on Regulus Resources Inc. or Aldebaran Resources, please consult our website at www.regulusresources.com or contact:
Regulus Resources Inc. John E. Black, CEO / Director Phone: +1 303 618-7797 mobile +1 720 514-9036 office Email: john.black@regulusresources.com
About Regulus Resources Inc.
Regulus is an international mineral exploration company run by an experienced technical and management team, with a portfolio of precious and base metal exploration properties located in North and South America. The principal project held by Regulus is the AntaKori copper-gold-silver project in northern Peru. The AntaKori project currently hosts an inferred resource of 294.8 million tonnes with a grade of 0.48% Cu, 0.36 g/t Au and 10.2 g/t Ag based upon 17,950 m of drilling by previous operators (see Southern Legacy Minerals press release of July 3rd, 2012 - Southern Legacy Minerals and Regulus merged in 2014 and kept the name Regulus Resources Inc.). Mineralization remains open in most directions and a significant drilling campaign is currently underway to confirm and increase the size of the resource.
Forward-Looking Statements
This press release contains forward-looking statements and forward-looking information within the meaning of applicable securities laws. The use of any of the words “expect”, “anticipate”, “continue”, “estimate”, “objective”, “ongoing”, “may”, “will”, “project”, “should”, “believe”, “plans”, “intends” and similar expressions are intended to identify forward-looking statements or information. In particular this press release contains forward-looking statements and information relating to the completion of the Financing, the repayment of the loans and the timing thereof; Although Regulus believe that the expectations and assumptions on which the forward-looking statements and information are based are reasonable, undue reliance should not be placed on the forward-looking statements and information because Regulus cannot give any assurance that they will prove to be correct. Since forward-looking statements and information address future events and conditions, by their very nature they involve inherent risks and uncertainties. The forward-looking statements and information is based on certain key expectations and assumptions made by management of Regulus, including expectations and assumptions concerning: the satisfaction of all conditions to the closing of the Offering and on the time frames contemplated. Actual results could differ materially from those currently anticipated due to a number of factors and risks, including but not limited to: risks related to the receipt of all necessary approvals for the Offering. Regulus cautions that the foregoing list of risks and uncertainties is not exhaustive.
The forward-looking statements and information contained in this press release are made as of the date hereof and Regulus undertakes no obligation to update publicly or revise any forward-looking statement or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
