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ARIANNE PHOSPHATE MAKES ANNUAL INTEREST PAYMENT ON ITS CREDIT FACILITY
ARIANNE PHOSPHATE MAKES ANNUAL INTEREST PAYMENT ON ITS CREDIT FACILITY Canada NewsWire ...
About this update from Arianne Phosphate Inc.
[{"type":"text","content":"\n\n\n\n ARIANNE PHOSPHATE MAKES ANNUAL INTEREST PAYMENT ON ITS CREDIT FACILITY\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 DAN: TSX-V (\n \n Canada\n \n )\n \n\n\n JE9N: FSE (\n \n Germany\n \n )\n \n\n\n DRRSF: OTCQX (\n \n USA\n \n )\n \n\n\n\n SAGUENAY, QC\n \n ,\n \n\n March 31, 2025\n \n\n /CNW/ -\n \n Arianne Phosphate (the \"Company\" or \"Arianne\")\n \n (TSXV: DAN) (OTCQX: DRRSF) (FRANKFURT: JE9N)\n \n ,\n \n a development-stage phosphate mining company, advancing the Lac à Paul project in\n \n Quebec's\n \n Saguenay-Lac-Saint-Jean region, today is announcing that it will issue 10,824,601 common shares at a price of\n \n $0.1809\n \n per share, in lieu of cash, as its annual interest payment to Mercury Financing Corp. (\"Mercury\") as at\n \n March 31, 2025\n \n . As part of the agreement with Mercury, Arianne has at its sole option the ability to pay its interest by way of cash or shares and, such cash amount would have been equal to\n \n $1,958,170.24\n \n . The Company has elected to pay this amount in common shares with these securities issued being subject to a hold period ending\n \n August 1\n \n , 2025.\n \n\n As well, Arianne will issue 5 million non-transferable share purchase warrants to Mercury, having an expiration on\n \n March 31, 2026\n \n , and an exercise price of\n \n $0.33\n \n per share (see Press Release dated\n \n March 18, 2021\n \n ). Under the terms of the agreement, the Company had undertaken to raise additional funds, by way of equity in the amount of\n \n $3M\n \n within the 1-year anniversary of the closing of the transaction and, every anniversary thereafter for the three subsequent years, for total cumulative gross proceeds of\n \n $12M\n \n . If the Company did not raise additional equity funds on a yearly and cumulative basis, the Company would issue the Lender an additional\n \n 5M\n \n non-transferable share purchase warrants per year where a funding milestone had not been met (maximum of\n \n 20M\n \n non-transferable warrants). In this final year o...