SAGUENAY, QUEBEC--(Marketwired - Sept. 12, 2013) - Arianne Phosphate Inc. ("Arianne") (News - Market indicators), (FRANKFURT:JE9N), (OTCBB:DRRSF) announces that it intends, subject to regulatory approval, to extend the term of 4,000,000 common share purchase warrants ("Warrants") issued as part of its private placement which closed on April 29, 2011. Each of the Warrants, which were part of the units being issued, entitled its holder to purchase one common share of Arianne ("Common Share") at an exercise price of $1.50 per Common Share expiring on April 29, 2013. In Spring 2013, the exercise price of the Warrants was amended to $1.24 per Common Share and their term extended to September 25, 2013 (see press release of March 20th, 2013, and press release of April 16th, 2013). None of the Warrants were exercised since issuance.
The expiry date of the Warrants is extended to February 1st, 2014 but no other Warrant terms are amended.
Arianne will deliver a notice of amendment reflecting the extended term to the registered holders of the Warrants. None of the registered holders are insiders of Arianne.
About Arianne Phosphate Inc.
Arianne Phosphate Inc. (www.arianne-inc.com) is developing the Lac à Paul phosphate deposits located approximately 200 km north of the Saguenay/Lac St. Jean area of Quebec, Canada. These deposits should produce a high quality igneous apatite concentrate grading 39% P2O5 with little or no contaminant. Arianne has 79 million shares outstanding.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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