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Arianne Closes on its Previously Announced Amended Credit Facility
Arianne Closes on its Previously Announced Amended Credit Facility Canada NewsWire...
About this update from Arianne Phosphate Inc.
[{"type":"text","content":"\n\n\n\nArianne Closes on its Previously Announced Amended Credit Facility\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n\n\n\n\n\n\n\nCanada NewsWire\nSAGUENAY, QC, Dec. 22, 2017\n\n\n\nDAN: TSX-V (Canada)JE9N: FSE (Germany)DRRSF: OTC (USA)\n\n\n\nSAGUENAY, QC, Dec. 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 phosphate rock project in Quebec's Saguenay-Lac-Saint-Jean region, has closed on its previously announced (see Press Release dated December 8, 2017) amended and extended secured credit facility. The credit facility is in the amount of $19,472,638. Maturity of the facility will be January 15, 2019 and amends the present facility that was set to mature December 31, 2017.\n\n\n \n \n\n \nThe secured credit facility will bear interest at an annual rate equal to 15%, with all interest capitalized through the end of the facility. Additionally, the Company has issued the lender 17,181,739 non-transferable warrants which an exercise price of $0.68/share. The warrants are exercisable through January 15, 2019. As well, the parties have agreed to cancel 3,724,000 non-transferable warrants that were originally issued to the lenders in October 2015 (see Press Release dated October 22, 2015). Arianne will pay the lender a commitment fee equal to 3% payable at maturity of the loan.\n\nAll securities issued in connection with the transaction are subject to a mandatory hold period of four (4) months ending on April 22, 2018. The transaction is subject to the final approval of the TSX Venture Exchange.\n\nAbout Arianne PhosphateArianne 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.\...