Arianne Phosphate Makes Annual Interest Payment ON Its Credit Facility DAN: TSX-V ( Canada ) JE9N: Fse ( Germany ) Drrsf: OTCQX ( USA )
ARIANNE PHOSPHATE MAKES ANNUAL
INTEREST PAYMENT ON ITS CREDIT
FACILITY
DAN: TSX-V (
Canada
)
JE9N: FSE (
Germany
)
DRRSF: OTCQX (
USA
)
SAGUENAY, QC
,
March 31, 2025
/CNW/ -
Arianne Phosphate (the "Company" or "Arianne")
(TSXV: DAN) (OTCQX: DRRSF) (FRANKFURT: JE9N)
,
a development-stage phosphate mining
company, advancing the Lac à Paul project in
Quebec's
Saguenay-Lac-Saint-Jean region, today is
announcing that it will issue 10,824,601 common shares at a price of
$0.1809
per share, in lieu of
cash, as its annual interest payment to Mercury Financing Corp. ("Mercury") as at
March 31, 2025
.
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
$1,958,170.24
. The
Company has elected to pay this amount in common shares with these securities issued being
subject to a hold period ending
August 1
, 2025.
As well, Arianne will issue 5 million non-transferable share purchase warrants to Mercury, having an
expiration on
March 31, 2026
, and an exercise price of
$0.33
per share (see Press Release dated
March 18, 2021
). Under the terms of the agreement, the Company had undertaken to raise
additional funds, by way of equity in the amount of
$3M
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
$12M
. If the Company did not raise additional equity funds on a yearly
and cumulative basis, the Company would issue the Lender an additional
5M
non-transferable share
purchase warrants per year where a funding milestone had not been met (maximum of
20M
non-
transferable warrants). In this final year of the Agreement, the Company has opted to issue the
additional
5M
warrants (at
$0.33
/share) as opposed to raising equity at these current levels.
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
213,714,811 shares outstanding.
Qualified
Person
Raphael Gaudreault
, eng., Qualified Person by Regulation 43-101, has approved this release. Mr.
Gaudreault is also the Company's Chief Operating Officer.
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 labor 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/March2025/31/c2251.html
%SEDAR: 00003556E
For further information:
Contact Information: Technical: Raphael Gaudreault, COO, Tel. : 418-
590-1318, [email protected]; Info: Brian Ostroff, President, Tel. : 514-908-4202,
CO: Arianne Phosphate Inc.
CNW 20:07e 31-MAR-25