DAN: TSX-V (Canada)
JE9N: FSE (Germany)
DRRSF: OTC (USA)
Proceeds will be used to advance strategic
initiatives underway
SAGUENAY, QC, Aug. 22, 2017 /CNW
Telbec/ - Arianne Phosphate (the "Company" or "Arianne")
(TSXV: DAN) (OTC: DRRSF) (FRANKFURT: JE9N), a development-stage
phosphate mining company, advancing the Lac à Paul project in
Quebec's Saguenay-Lac-Saint-Jean
region announced today that it has closed on a $2,306,000 financing. Under the terms of the
financing, Arianne has issued 2,882,500 units at a price of
$0.80 per unit. Each unit is
comprised of one common share and a half warrant. Each full warrant
entitles the holder to purchase one common share at a price of
$1.25 until August 22, 2020. If at any time after four (4)
months and one (1) day following the closing date, the trading
price of the Company's common shares on the TSX Venture Exchange
(the "Exchange") is equal to or exceeds $1.60 for a period of ten (10) consecutive
trading days, as evidenced by the price at the close of market, the
Company shall be entitled to notify each warrant holder of its
intention to force the exercise of the warrants. Upon receipt of
such notice, the warrant holders shall have 30 days to exercise the
warrants, failing which they will automatically expire.
"Although the fertilizer sector has been very challenging for a
considerable period of time, the last year has seen a considerable
pick up in transactions and interest in the space," said
Brian Ostroff, CEO of Arianne
Phosphate. "These transactions coupled with recent supply
disruptions out of Western Sahara
and environmental concerns in Europe have increased the awareness of, and
interest in, Arianne's Lac à Paul project. Our belief is that the
improving macro conditions coupled with Arianne's significant
progress will help bring the project to fruition and unlock the
significant value associated with it. Over the last few months we
have announced several agreements and initiatives and, these funds
will allow us to accelerate our activities in this regard."
In conjunction with this financing, Arianne has paid finder fees
of $184,480 and issued 230,600
non-transferable warrants exercisable at a price of $0.80 per share until August 22, 2020. The securities issued in
connection with the financing are subject to a regulatory hold
period of four (4) months and one (1) day expiring on December 23, 2017. The financing remains subject
to the final approval of the Exchange.
About Arianne Phosphate
Arianne Phosphate ("Arianne Phosphate Inc.")
(www.arianne-inc.com) is developing the Lac à Paul phosphate
deposits located approximately 200 km north of the Saguenay/Lac St.
Jean area of Quebec, Canada.
These deposits will produce a high quality igneous apatite
concentrate grading 39% P2O5 with little or
no contaminants. The Company has 100,530,580 million shares
outstanding.
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Follow Arianne
on:
Facebook: https://www.facebook.com/ariannephosphate
Twitter: http://twitter.com/arianne_dan
YouTube: http://www.youtube.com/user/ArianneResources
Flickr: http://www.flickr.com/photos/arianneresources
Resource Investing
News: http://resourceinvestingnews.com/?s=Arianne
Cautionary Statements Regarding Forward Looking
Information
This news release contains "forward-looking
statements" and "forward-looking information" within the meaning of
applicable securities regulations in Canada and the
United States (collectively, "forward-looking information").
Forward-looking information includes, but is not limited to,
anticipated quality and production of the apatite concentrate at
the Lac à Paul project. Often, but not always, forward-looking
information can be identified by the use of words such as "plans",
"expects, "is expected", "budget", "scheduled", "estimates",
forecasts", "intends", "anticipates", or "believes", or the
negatives thereof or variations of such words and phrases or
statements that certain actions, events or results "may", "could",
"would", "might", or "will" be taken, occur or be achieved.
Forward-looking information is subject to known and unknown risks,
uncertainties and other factors that may cause the actual results,
level of activity, performance or achievements of the Company to be
materially different from those expressed or implied by such
forward-looking information, including but not limited to: volatile
stock price; risks related to changes in commodity prices; sources
and cost of power facilities; the estimation of initial and
sustaining capital requirements; the estimation of labour and
operating costs; the general global markets and economic
conditions; the risk associated with exploration, development and
operations of mineral deposits; the estimation of mineral reserves
and resources; the risks associated with uninsurable risks arising
during the course of exploration, development and production; risks
associated with currency fluctuations; environmental risks;
competition faced in securing experienced personnel; access to
adequate infrastructure to support mining, processing, development
and exploration activities; the risks associated with changes in
the mining regulatory regime governing the Company; completion of
the environmental assessment process; risks related to regulatory
and permitting delays; risks related to potential conflicts of
interest; the reliance on key personnel; financing, capitalization
and liquidity risks including the risk that the financing necessary
to fund continued exploration and development activities at Lac à
Paul project may not be available on satisfactory terms, or at all;
the risk of potential dilution through the issue of common shares;
the risk of litigation. Forward-looking information is based on
assumptions management believes to be reasonable at the time such
statements are made, including but not limited to, continued
exploration activities, no material adverse change in commodity
prices, exploration and development plans proceeding in accordance
with plans and such plans achieving their stated expected outcomes,
receipt of required regulatory approvals, and such other
assumptions and factors as set out herein. Although the Company has
attempted to identify important factors that could cause actual
results to differ materially from those contained in the
forward-looking information, there may be other factors that cause
results not to be as anticipated, estimated or intended. There can
be no assurance that such forward-looking information will prove to
be accurate, as actual results and future events could differ
materially from those anticipated, including the completion of any
proposed business venture or combination in such forward-looking
information. Accordingly, readers should not place undue reliance
on forward-looking information. Forward-looking information is made
as of the date of this press release, and the Company does not
undertake to update such forward-looking information except in
accordance with applicable securities laws.
SOURCE Arianne Phosphate Inc.