The Prospector News

Arianne Closes $3.2 Million Private Placement

You have opened a direct link to the current edition PDF

Open PDF Close
Uncategorized

Share this news article

Arianne Closes $3.2 Million Private Placement

 

 

 

 

 

 

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

MORE or "UNCATEGORIZED"


Summa Silver Corp. Closes Oversubscribed $5 Million Financing and Welcomes Eric Sprott as Investor

Summa Silver Corp. (CSE:SSVR) (Frankfurt:48X) is pleased to annou... READ MORE

May 28, 2020

Kintavar options Anik Gold property to IAMGOLD; up to $6.5M work commitment and potential to receive up to $3M payment

Kintavar Exploration Inc. (TSX-V: KTR) (FRANKFURT: 58V), is very ... READ MORE

May 28, 2020

Osino Resources Drills Additional Wide Gold Intercepts and Further Increases Strike of Mineralization at Twin Hills Central Discovery, Namibia

Osino Resources Corp. (TSX-V: OSI) (FSE: RSR1) is pleased to anno... READ MORE

May 28, 2020

Cartier Cuts 16.5 g/t Au over 4.5 m at Chimo Mine 500 m below the New Zones 5B4-5M4-5NE

Cartier Resources Inc. (TSX-V: ECR) announces values of 32.0 g/t ... READ MORE

May 28, 2020

Endeavour Silver Restarts Mining Operations in Mexico

Endeavour Silver Corp. (NYSE: EXK) (TSX: EDR) announces that it h... READ MORE

May 28, 2020

Copyright 2020 The Prospector News - Site design by Spyderbaby Productions