Arianne Phosphate Arranges $1.17M Private Placement

 Arianne Phosphate (TSXV:DAN,FWB:JE9N,OTCBB:DRRSF) arranged a non-brokered private placement for gross proceeds of approximately $1.17 million, by issuing 650,000 Flow-Through Shares, at a price of $1.80 per Flow-Through Share.

As quoted in the press release:

The Company will proceed with a non-brokered private placement for gross proceeds of approximately $1.17 Million (the “Offering”). The Offering consists of the issuance of approximately 650,000 Flow-Through Shares at a price of $1.80 per Flow-Through Share.

Arianne Phosphate CEO, Brian Kenny, said:

Though a limited financing, it reflects the continued support of the financial markets and our existing shareholders in the Project. Investors continue to show their enthusiasm towards the development of the world class Lac a Paul Phosphate Rock Mine.

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