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Arianne Phosphate closes on oversubscribed C$5.75M financing

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Arianne Phosphate Inc

On June 4, 2021, Arianne Phosphate, a development-stage phosphate mining company, closed its previously announced bought deal private placement offering 11,500,000 units of the company issued at $0.50 per Unit for gross proceeds of C$5.75M.

The net proceeds from the offering will be primarily used to fund development expenses for the Lac à Paul Project in Quebec's Saguenay-Lac-Saint-Jean region, and for general working capital purposes.

A Fasken team comprised of Frank Mariage, Jean-Philippe Côté, Vincent Maltais, Carole Gélinas and Nathalie Lauzier acted for Arianne Phosphate in connection with this transaction.