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Arianne Phosphate Closes on Oversubscribed $5,750,000 Financing
Arianne Phosphate Closes on Oversubscribed $5,750,000 Financing Canada NewsWire...
About this update from Arianne Phosphate Inc.
[{"type":"text","content":"\n \n \n \n Arianne Phosphate Closes on Oversubscribed $5,750,000 Financing\n \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 Canada NewsWire\n \n \n \n \n \n NOT FOR DISTRIBUTION TO\n \n UNITED STATES\n \n NEWS WIRE SERVICES OR FOR DISSEMINATION IN\n \n THE UNITED STATES\n \n \n \n \n \n Includes exercise in full of Underwriters' option\n \n \n \n \n DAN: TSX-V (\n \n Canada\n \n )\n \n JE9N: FSE (\n \n Germany\n \n )\n \n \n \n SAGUENAY, QC,\n \n June 4, 2021\n \n /CNW Telbec/ -\n \n Arianne Phosphate (the \"Company\" or \"Arianne\")\n \n (TSXV: DAN) (OTC: DRRSF) (FRANKFURT: JE9N), a development-stage phosphate mining company, advancing the Lac à Paul project in\n \n Quebec's\n \n Saguenay-Lac-Saint-Jean region, has closed its previously announced bought deal private placement offering (the\n \n \"Offering\"\n \n ) of 11,500,000 units of the Company (each, a \"Unit\") issued at\n \n $0.50\n \n per Unit (the\n \n \"Issue Price\"\n \n ) for gross proceeds of\n \n $5,750,000\n \n .\n \n \n \"Arianne's hard work over the last few years is starting to pay off and is not lost on our supporters,\" said\n \n Brian Ostroff\n \n , President of Arianne Phosphate.  \"The closing of this financing shows that interest in our Company is growing and investors are looking to capitalize on the improving macro.  It is also an acknowledgement of Arianne's leading position in the phosphate area.  With the Company now in a very strong financial position, Arianne will accelerate its move towards development.  Further, with these additional resources, Arianne can continue to expand some of its work in other potential markets for its high-purity phosphate concentrate.\"\n \n \n Each Unit is comprised of one common share of the Company and one-half of one transferable common share purchase warrant (each whole warrant, a\n \n \"Warrant\"\n \n ).  Each Warrant entitles the holder thereof to acquire one additional common share of the Company (a\n \n \"Warrant Share\"\n \n ) at an exercise price of\n \n $0.71\n \n per Warrant ...