ARIANNE PHOSPHATE ISSUES SHARES AS INTEREST PAYMENT -issuance of shares is in lieu of a cash payment DAN: TSX-V ( Canada ) JE9N: FSE ( Germany ) DRRSF: OTC ( USA )
ARIANNE PHOSPHATE ISSUES SHARES AS
INTEREST PAYMENT
-issuance of shares is in lieu of a cash payment
DAN: TSX-V (
Canada
)
JE9N: FSE (
Germany
)
DRRSF: OTC (
USA
)
SAGUENAY, QC
,
April 1, 2022
/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, is
announcing that it will issue 4,166,096 common shares at a price of
$0.512
per share, in lieu of
cash, as its annual interest payment to Mercury Financing Corp. ("Mercury") as at,
March 31
, 2022.
As per the Company's announcement of March of 2021, Arianne reached an agreement with
Mercury whereby Mercury extended its credit facility, reduced the principal of its loan and, reduced
the annual interest rate (
full details of the extension can be found on the Press Release dated
March 18, 2021
). As part of
this extension, Arianne had at its sole option to issue the interest by way of shares or cash, such
cash amount would have been equal to
$2,133,041
. The Company has elected to pay in common
shares with these securities issued being subject to a hold period ending
August 2, 2022
.
"This is a win/win for all involved," said
Brian Ostroff
, President of Arianne Phosphate. "By electing
to pay in shares, as opposed to cash, will allow the Company to preserve its substantial cash
balance and defer any immediate requirements to raise additional capital. At the same time, it will
allow Mercury to increase its participation in Arianne, showing support for the project and, keeping
interests aligned with management and the other shareholders."
This transaction remains subject to final approval of the TSX Venture Exchange.
Participation At the Lytham Partners Spring 2022 Conference
As well, Arianne announced today that it will be participating at the Lytham Partners Spring 2022
Investor Conference taking place virtually on
April 4-7, 2022
.
The Company's webcast presentation will be available for viewing at 11:00am ET on
Monday, April
4, 2022
, available at
https://wsw.com/webcast/lytham4/dan.v/2097285
. The webcast will also be
archived and available for replay. Management will also be participating in virtual one-on-one
meetings throughout the event.
Brian Ostroff
, President of Arianne Phosphate, added "this conference provides us the opportunity to
continue to expand the awareness of our Company to an American audience. As the agricultural and
fertilizer macro has greatly improved, so too has the investor interest in learning about Arianne and,
an increased American-based investor participation in our Company."
Qualified
Person
Raphael Gaudreault
, eng., Qualified Person by NI 43-101, has approved this release. Mr.
Gaudreault is also the Company's Chief Operating Officer.
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% P
2
O
5
with little or no contaminants (Feasibility Study released in 2013). The Company has
189,641,406 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.
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 Information
This news release contains "forward-looking statements" and "forward-looking information"
within the meaning of applicable securities regulations in
Canada
and
the United States
(collectively, "forward-looking information"). Forward-looking information includes, but is
not limited to, anticipated quality and production of the 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", "scheduled", "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 information is
subject to be 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 different 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 power 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 associated with exploration, development and operations of
mineral deposits; the estimation of mineral reserves and resources; the risks associated with
uninsurable risks arising during the course of exploration, development and production;
risks associated with currency fluctuations; 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; completion 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 approval, and such other
assumptions and factors as set out herein. Although the Company has attempted to identify
important factors that could cause actual 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 results and future events could differ
materially from those anticipated in such forward-looking information. 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 does not
undertake to update such forward-looking information except in accordance with applicable
securities laws.
SOURCE
Arianne Phosphate Inc.
View original content:
http://www.newswire.ca/en/releases/archive/April2022/01/c4106.html
%SEDAR: 00003556E
For further information:
Source : Raphael Gaudreault, COO, Tel. : 418-549-7316,
[email protected]; Info: Brian Ostroff, President, Tel. : 514-908-4202,
CO: Arianne Phosphate Inc.
CNW 15:45e 01-APR-22