Arianne amends and extends current credit facility DAN: TSX-V (Canada) JE9N: FSE (Germany) DRRSF: OTC (USA)
Arianne amends and extends current credit facility
DAN: TSX-V (Canada)
JE9N: FSE (Germany)
DRRSF: OTC (USA)
SAGUENAY, QC, Dec. 8, 2017 /CNW Telbec/ - 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, today has
announced that it has amended and extended its curr ent secured credit facility (see news release dated
October 22, 2015 for more details). The current facility, which was set to mature as of December 31,
2017, has now been extended until January 15, 2019.
The secured credit facility in the amount of $19,472,638 will bear interest at an annual rate equal to 15%
with all interest capitalized through the end of the facility. Additionally, the Company will issue the lender
at closing 17,181,739 warrants at an exercise price of $0.68 per share, which, if exercised, would
represent 60% of the face value of the credit facility. All the warrants will be exercisable through January
15, 2019. In connection with this transaction, Arianne will pay to the lender a commitment fee of 3% of
the total amount of the credit facility, with this amount due at the end of the facility. The parties have also
agreed to terminate at closing 3,717,000 non-transferable warrants which were issued to the lender in
October 2015.
The Company did not pay an arrangement fee in connection with this transaction. The parties intend to
proceed to the closing of the transaction shortly, which remains subject to the approval of the TSX
Venture Exchange.
"Concluding on the credit facility with current lenders is a strong show of confidence in our efforts and, its
limited dilution relative to an equity financing, is of real benefit to Arianne and its shareholders a t this
time," said Brian Ostroff, Arianne's CEO. "With this agreement now in place, Arianne has extended by
thirteen months any payments, both interest and principal, associated with its credit facility and can now
fully focus on its current discussions with financiers and strategic players without this immediate liquidity
concern."
About Arianne Phosphate
Arianne Phosphate ("Arianne Phosphate Inc.") ( www.arianne-inc.com ) is developing the Lac à Paul
phosphate deposits located approximately 200 km nor th of the Saguenay/Lac St. Jean area of Quebec,
Canada. These deposits will produce a high quality igneous apatite concentrate grading 39% P 2O5 with
little or no contaminants. The Company has 100,530, 580 million shares outstanding.
Neither TSX Venture Exchange nor its Regulation Ser vices Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this
release.
Follow Arianne on:
Facebook: https://www.facebook.com/ariannephosphate
Twitter: http://twitter.com/arianne_dan
YouTube: http://www.youtube.com/user/ArianneResources
Flickr: http://www.flickr.com/photos/arianneresources
Resource Investing News: http://resourceinvestingnews.com/?s=Arianne
Cautionary Statements Regarding Forward Looking Inf ormation
This news release contains "forward-looking stateme nts" and "forward-looking information"
within the meaning of applicable securities regulat ions in Canada and the United States
(collectively, "forward-looking information"). Forward-looking information includes, but is not
limited to, anticipated quality and production of t he apatite concentrate at the Lac à Paul project.
Often, but not always, forward-looking information can be identified by the use of words such as
"plans", "expects, "is expected", "budget", "schedu led", "estimates", forecasts", "intends",
"anticipates", or "believes", or the negatives thereof or variations of such words and phrases or
statements that certain actions, events or results "may", "could", "would", "might", or "will" be
taken, occur or be achieved. Forward-looking inform ation is subject to known and unknown risks,
uncertainties and other factors that may cause the actual results, level of activity, performance or
achievements of the Company to be materially differ ent from those expressed or implied by such
forward-looking information, including but not limited to: volatile stock price; risks related to
changes in commodity prices; sources and cost of po wer facilities; the estimation of initial and
sustaining capital requirements; the estimation of labour and operating costs; the general global
markets and economic conditions; the risk associate d with exploration, development and
operations of mineral deposits; the estimation of m ineral reserves and resources; the risks
associated with uninsurable risks arising during th e course of exploration, development and
production; risks associated with currency fluctuat ions; environmental risks; competition faced in
securing experienced personnel; access to adequate infrastructure to support mining,
processing, development and exploration activities; the risks associated with changes in the
mining regulatory regime governing the Company; com pletion of the environmental assessment
process; risks related to regulatory and permitting delays; risks related to potential conflicts of
interest; the reliance on key personnel; financing, capitalization and liquidity risks including the
risk that the financing necessary to fund continued exploration and development activities at Lac
à Paul project may not be available on satisfactory terms, or at all; the risk of potential dilution
through the issue of common shares; the risk of litigation. Forward-looking information is based
on assumptions management believes to be reasonable at the time such statements are made,
including but not limited to, continued exploration activities, no material adverse change in
commodity prices, exploration and development plans proceeding in accordance with plans and
such plans achieving their stated expected outcomes , receipt of required regulatory approvals,
and such other assumptions and factors as set out h erein. Although the Company has attempted
to identify important factors that could cause actu al results to differ materially from those
contained in the forward-looking information, there may be other factors that cause results not to
be as anticipated, estimated or intended. There can be no assurance that such forward-looking
information will prove to be accurate, as actual re sults and future events could differ materially
from those anticipated in such forward-looking info rmation. Accordingly, readers should not
place undue reliance on forward-looking information . Forward-looking information is made as of
the date of this press release, and the Company doe s not undertake to update such forward-
looking information except in accordance with applicable securities laws.
SOURCE Arianne Phosphate Inc.
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http://www.newswire.ca/en/releases/archive/December 2017/08/c3036.html
%SEDAR: 00003556E
For further information: Source: Jean-Sébastien David, C.O.O., Tel. : 418-549-7316,
[email protected]; Info: Brian Ostroff, C.E.O., Tel. : 514-908-4202, brian.ostroff@arianne-
inc.com
CO: Arianne Phosphate Inc.
CNW 08:43e 08-DEC-17