On April 1, 2026, Arianne Phosphate Inc., a Québec-based development-stage phosphate mining company advancing the Lac à Paul project, closed an agreement with Mercury Financing Corp. to amend, restate and extend its existing secured credit facilities.
Under the amended and restated credit agreement, Arianne consolidated and extended three existing credit facilities into a secured credit facility with an aggregate principal amount of C$24,477,128 and a maturity date of September 30, 2027. As part of the transaction, Arianne issued common shares in payment of accrued interest, issued additional common shares and warrants to Mercury, granted certain board nomination rights and agreed to production fee arrangements. The transaction provides continued financing support for the advancement of the Lac à Paul phosphate project.
Fasken advised Arianne Phosphate Inc. with a team led by Frank Mariage.
Jurisdiction
- Québec
