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Arianne Phosphate Reports Corporate and Financial Results for Third Quarter 2017
Arianne Phosphate Reports Corporate and Financial Results for Third Quarter 2017 C...
About this update from Arianne Phosphate Inc.
[{"type":"text","content":"\n\n\n\nArianne Phosphate Reports Corporate and Financial Results for Third Quarter 2017\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, Nov. 22, 2017\n\n\n\nDAN: TSX-V (Canada)JE9N: FSE (Germany)DRRSF: OTC (USA) \n\n\n\nSAGUENAY, QC, Nov. 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 project in Quebec's Saguenay-Lac-Saint-Jean region, reported its financial results for the three- and nine-month periods ended September 30, 2017.  All amounts are in Canadian dollars unless noted.\n\n\n \n \n\n \n\"To date, 2017 has been a very productive year for us,\" said Brian Ostroff, CEO of Arianne Phosphate. \"One of our most recent announcement regarding the completion of our Information Memorandum for interested financing parties follows on to what has been a rapid progression of positive news that has materialized throughout the year.  Discussions continue to progress with potential partners, both strategic and financial, as we look to conclude the agreements that will make Lac à Paul a reality.\"\n\nQ3 2017 Financial and Operational Highlights \n\n\nIn August 2017, the Company announced that it has closed on a $2,306,000 financing. Under the terms of the financing, Arianne has issued 2,882,500 units at a price of $0.80 per unit. Each unit is comprised of one common share and a half warrant. Each full warrant entitles the holder to purchase one common share at a price of $1.25 until August 22, 2020. If at any time after four (4) months and one (1) day following the closing date, the trading price of the Company's common shares on the TSX Venture Exchange (the \"Exchange\") is equal to or exceeds $1.60 for a period of ten (10) consecutive trading days, as evidenced by the price at the close of market, the Company shall be entitled to notify each warrant holder of its intention to force the exercise of the warrants. Upon receipt of such notice, the wa...