The Prospector News

Arianne Closes $3.2 Million Private Placement

You have opened a direct link to the current edition PDF

Open PDF Close

Share this news article







Arianne Phosphate Inc. (TSX VENTURE:DAN)(FRANKFURT:JE9N)(OTCBB:DRRSF) is pleased to announce that it has closed the previously announced private placement. In total, Arianne issued 1,790,952 flow-through shares at a price of $1.80 per flow-through share for total proceeds of Cdn$3,223,714. The Company increased the offering by $2,056,714 in light of high demand.


Brian Kenny, Chief Executive Officer of the Company, said: “We are very pleased with the success of this financing and note the participation of directors, officers and other employees as well as the large price premium. We received strong interest from both existing and new shareholders and, as a result, decided to increase the size of the offering. This successful transaction, completed in a short period of time, reflects the continued support of the financial markets and our shareholders towards the development of the world class Lac a Paul Phosphate Rock Mine.”


Derek Lindsay, Chief Financial Officer of the Company, stated: “In December, the Company received more than $2.6 million from investors holding warrants priced at $1.24 and due February 1, 2014 who decided to exercise early. In addition, the Company also anticipates receiving an additional $880,000 from the exercise of outstanding warrants. In conjunction with this successful flow-through offering, the Company will end 2013 in a favourable cash position.”


In this private placement, directors, officers and other employees of the Company subscribed for aggregate proceeds of $281,959. The Company paid a cash commission of $235,340 in relation to the private placement and issued 130,744 non-transferable share purchase warrants exercisable at a price $1.40 per share until December 18, 2015. All securities issued pursuant to the private placement are subject to a mandatory hold period of four months ending April 19, 2014.


The private placement is subject to final approval from the TSX Venture Exchange.


This press release is not an offer or a solicitation of an offer of securities for sale in the United States. The securities have not been and will not be registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from registration.


About Arianne Phosphate


Arianne is developing the Lac a Paul Phosphate Rock Mine located approximately 200 km north of the Saguenay/Lac St. Jean area of Quebec, Canada. This mine will produce a high quality igneous apatite concentrate grading 38.6% P2O5 with little or no contaminants. The Company has 82.4 million shares outstanding.

Posted December 19, 2013

Share this news article


Libero Options the Esperanza Porphyry Copper-Gold Project - Drilling Includes 232 Metres of 1% Cueq from Surface

Libero Copper & Gold Corporation (TSX-V: LBC) (OTCQB: LBCMF) ... READ MORE

January 26, 2021

Goldshore Resources to Acquire Moss Lake Gold Project from Wesdome Gold Mines Ltd., Creating New Canadian Gold Development Company

Goldshore to Complete Concurrent $25 Million Equity Financing &am... READ MORE

January 26, 2021

Group Eleven Intersects Up To 8.7% Zinc and 3.3% Lead (12.0% combined) in Step-Out Drilling at Stonepark, Ireland

Group Eleven Resources Corp. (TSX-V: ZNG) (OTC: GRLVF) (FRA: 3GE)... READ MORE

January 26, 2021


SRG Mining Inc. (TSX-V: SRG) is pleased to announce that i... READ MORE

January 26, 2021

Pucara Gold Reports on its First Drill Campaign at Lourdes Gold Project in Peru

Highlights Drilling results confirmed presence of gold mineraliza... READ MORE

January 26, 2021

Copyright 2021 The Prospector News