SAGUENAY, QUEBEC – (January 19, 2017) – Arianne Phosphate (the “Company” or “Arianne”) (TSX VENTURE: DAN; OTC: DRRSF; FRANKFURT: JE9N), a development-stage phosphate mining company, advancing the Lac à Paul project in Quebec’s Saguenay-Lac-Saint-Jean region announced today, subject to regulatory approval, the extension on the term of 1,217,500 common share purchase warrants (“Warrants“) issued as part of a private placement which closed on July 29, 2013 for gross proceeds of $2,678,500. Each of the Warrants, which were part of the units being issued, entitles its holder to purchase one common share of Arianne (a “Common Share“) at an exercise price of $1.45 per Common Share until January 27, 2017. Arianne has elected to extend the expiry date of the Warrants to January 27, 2018. No other Warrant terms are amended.
Arianne will deliver a notice of extension to the registered holders of the Warrants.