Arianne Phosphate concludes C$3.22 million private placement of stock

Company offers 1,790,952 flow-through common shares at C$1.80 apiece

By Devika Patel

Knoxville, Tenn., Dec. 18 - Arianne Phosphate Inc. said it raised C$3.22 million in a non-brokered private placement of stock. The deal priced for about C$1.17 million on Dec. 3.

The company sold 1,790,952 flow-through common shares at C$1.80 apiece. The price per share represents a 23.29% premium to the Dec. 2 closing share price of C$1.46.

The phosphate explorer is based in Saguenay, Quebec.

Issuer:	Arianne Phosphate Inc.
Issue:	Flow-through common stock
Amount:	C$3,223,714
Shares:	1,790,952
Price:	C$1.80
Warrants:	No
Agent:	Non-brokered
Pricing date:	Dec. 3
Settlement date:	Dec. 18
Stock symbol:	TSX Venture: DAN
Stock price:	C$1.46 at close Dec. 2
Market capitalization:	C$112.01 million

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