DAN: TSX-V (Canada)
JE9N: FSE (Germany)
DRRSF: OTC (USA)
SAGUENAY, QC, July 22, 2016 /CNW/ - Arianne Phosphate (the "Company" or "Arianne") (TSX VENTURE: 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 announced today, subject to regulatory approval, the extension of the term of 2,815,500 common share purchase warrants ("Warrants") issued as part of a private placement which closed on July 31, 2014 for gross proceeds of $5,631,000. Each of the Warrants, which were part of the units being issued, entitles its holder to purchase one common share of Arianne (a "Common Share") at an exercise price of $1.25 per Common Share until July 31, 2016. Arianne has elected to extend the expiry date of the Warrants to July 31, 2017. No other Warrant terms are amended.
Arianne will deliver a notice of extension to the registered holders of the Warrants.
About Arianne Phosphate
Arianne Phosphate ("Arianne Phosphate Inc.") (www.arianne-inc.com) is developing the Lac à Paul phosphate deposits located approximately 200 km north of the Saguenay/Lac St. Jean area of Quebec, Canada. These deposits will produce a high quality igneous apatite concentrate grading 39% P2O5 with little or no contaminants. The Company has 97,225,755 million shares outstanding.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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SOURCE Arianne Phosphate Inc.
For further information: Source: Jean-Sébastien David, C.O.O., Tel. : 418-549-7316, [email protected]; Info: Joe Racanelli, Tel. : 416-586-1943, [email protected]; Brian Ostroff, C.E.O., Tel. : 514-908-4202, [email protected]; Medias: Karyna Tremblay, Community Relations Coordinator, Tel.: 418-549-7316, [email protected]