Arianne Phosphate completes C$3.55 million placement of stock, units

Deal sells C$874,300 of flow-through shares, C$2.68 million of units

By Devika Patel

Knoxville, Tenn., July 30 - Arianne Phosphate Inc. said it settled a C$3.55 million private placement of stock and units, which was conducted on a best-efforts basis. The deal priced for C$3.5 million on July 12.

The company sold 624,500 flow-through common shares at C$1.40 per share and 2,435,000 units of one common share and a half-share warrant at C$1.10 per unit.

Each whole warrant is exercisable at C$1.45 until July 29, 2015. The strike price reflects a 28.32% premium to the July 11 closing share price of C$1.13. The price per share is a 23.89% premium to that price.

Insiders invested C$66,600.

The phosphate explorer is based in Saguenay, Quebec.

Issuer:	Arianne Phosphate Inc.
Issue:	Flow-through common shares, units of one common share and a half-share warrant
Amount:	C$3,552,800
Pricing date:	July 12
Settlement date:	July 30
Stock symbol:	TSX Venture: DAN
Stock price:	C$1.13 at close July 11
Market capitalization:	C$81.24 million
Shares
Amount:	C$874,300
Shares:	624,500
Price:	C$1.40
Warrants:	No
Units
Amount:	C$2,678,500
Units:	2,435,000
Price:	C$1.10
Warrants:	One half-share warrant per unit
Warrant expiration:	July 29, 2015
Warrant strike price:	C$1.45

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