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ARIANNE PHOSPHATE EXTENDS ITS CREDIT FACILITIES
ARIANNE PHOSPHATE EXTENDS ITS CREDIT FACILITIES Canada NewsWire DAN: TSX-V (Canada...
About this update from Arianne Phosphate Inc.
[{"type":"text","content":"\n\n\nARIANNE PHOSPHATE EXTENDS ITS CREDIT FACILITIES\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\n\n\n\n\n\nCanada NewsWire\n\n\nDAN: TSX-V (Canada)JE9N: FSE (Germany)DRRSF: OTCQB (USA)SAGUENAY, QC, March 12, 2026 /CNW/ - Arianne Phosphate (the \"Company\" or \"Arianne\") (TSXV: DAN) (OTCQB: DRRSF) (FRANKFURT: JE9N), a development-stage phosphate mining company, advancing the Lac à Paul project in Quebec's Saguenay-Lac-Saint-Jean region, is pleased to announce that it has entered into an agreement as at the date hereof (the \"2026 Letter Agreement\") with its senior secured lender Mercury Financing Corp. (\"Mercury\" or the \"Lender\") to extend until September 30, 2027 its three existing credit facilities respectively dated August 21, 2012, July 29, 2013 and October 20, 2015, as subsequently amended. The extended secured credit facilities are in the aggregate amount of $26,328,001 (the \"Loan\") and were set to expire on March 31, 2026. The aggregate amount of the Loan includes an aggregate amount of $1,850,873 in accrued interest payable in common shares of the Company as detailed below. These credit facilities will continue to bear interest at an annual rate of 8%, with all interest capitalized through maturity. The extension is subject to the parties executing definitive agreements in connection with the transactions contemplated under the 2026 Letter Agreement by no later than March 31, 2026 (the \"Closing Date\"). \n\"Mercury's willingness to extend Arianne's credit facility should be taken as a very positive sign by investors,\" said Marco Gagnon, Executive Chairman of Arianne. \"In particular, the fact that many of the terms of the facility are tied to the performance of the Company's equity by way of common shares and warrants, allows for the alignment of interests by all parties involved. It also validates the importance of recent corporate events over the last few months including the extension of Arianne's permit and production of a very high purity phosphate concentrate, allowing us to target specialty applications like the LFP battery.\"Highlights of th...