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Arianne Phosphate Closes on $1.5 million Financing
Arianne Phosphate Closes on $1.5 million Financing Canada NewsWire SAGUENAY, QC,...
About this update from Arianne Phosphate Inc.
[{"type":"text","content":"\n\n\n\nArianne Phosphate Closes on $1.5 million Financing\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, June 10, 2020\n\n\n\n/NOT FOR DISSEMINATION OR DISTRIBUTION INTO THE UNITED STATES OR THROUGH UNITED STATES NEWSWIRE SERVICES/\n-investors include the Government of Quebec, Long-Standing Institutional Investors and Corporate Insiders\nDAN: TSX-V (Canada)JE9N: FSE (Germany) DRRSF: OTC (USA)\n SAGUENAY, QC, June 10, 2020 /CNW Telbec/ - Arianne Phosphate (the \"Company\" or \"Arianne\") (TSXV: DAN) (OTC: DRRSF) (FRANKFURT: JE9N), a development-stage phosphate mining company, advancing its Lac à Paul project in Quebec's Saguenay-Lac-Saint-Jean region is pleased to announce that it has closed on a $1.5 Million financing.  Subscribers to this financing were predominantly institutional and included Funds that have been long-time investors in Arianne.  Additionally, the Government of Quebec added 3,333,333 units to its holdings in the Company by way of investment in this placement through Investissement Quebec.\n\n \n \n \n \n \n \n\n \n\"Recent events surrounding the Covid-19 virus with resulting disruptions to the food-chain, as well as the heightened tensions around security of supply, continue to demonstrate the importance of our Lac a Paul phosphate project,\" said Brian Ostroff, CEO of Arianne Phosphate.  \"We welcome the support of our investors as we continue to move the project towards development to the betterment of all stakeholders and investors.  Further, the ongoing support of the Quebec Government is an important piece as we all work together to unlock the significant social and economic benefits to the region.\"  \nUnder the terms of the financing, Arianne Phosphate has issued 9,999,998 units at a price of $0.15 per unit, with each unit consisting of one common share and a half warrant.  A full warrant, issued as part of this financing, is exercisable at a price of $0.20 until June 10, 2023. The securities issued in connection with the financing are subj...