Arianne Phosphate (TSX VENTURE:DAN) (FRANKFURT:JE9N) (OTCBB:DRRSF) is pleased to announce it plans to raise approximately $1.17 million in flow through common shares for the Company before the end of this year.
Brian Kenny, Chief Executive Officer of the Company, said: “Though a limited financing, it reflects the continued support of the financial markets and our existing shareholders in the Project. Investors continue to show their enthusiasm towards the development of the world class Lac a Paul Phosphate Rock Mine.”
The Company will proceed with a non-brokered private placement for gross proceeds of approximately $1.17 Million. The Offering consists of the issuance of approximately 650,000 Flow-Through Shares at a price of $1.80 per Flow-Through Share.
In connection with the Offering, the Company will pay a cash commission and issue non-transferable warrants in accordance with the policies of The TSX Venture Exchange. The Offering is scheduled to close before the end of this year, and is subject to certain conditions including, but not limited to, the receipt of all necessary approvals including the approval of the Exchange. All securities issued pursuant to the Offering will be subject to a four-month hold period from the date of closing.
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 Phosphate is developing the Lac a Paul Phosphate Rock Mine located approximately 200 km north of the Saguenay/Lac St. Jean area of Quebec, Canada. These mines will produce a high quality igneous apatite concentrate grading 38.6% P2O5 with little or no contaminants. The Company has 81.8 million shares outstanding.
GT GoldCorp.(TSX-V: GTT) (OTCQX: GTGDF) is plea... READ MORE
Pretium Resources Inc. (TSX:PVG) (NYSE: PVG) announces that it, a... READ MORE
Marimaca Copper Corp. (TSX: MARI)is pleased to announce tha... READ MORE
GOLD PLUS MINING INC. (CSE :GPMI)(OTC: GPMNF)(F... READ MORE
Newrange Gold Corp. (TSX-V: NRG) (US: NRGOF) (Frankfurt: X6C) is ... READ MORE