Arianne Closes $18,750,000 Expanded Credit Facility

DAN: TSX-V (Canada)
JE9N: FSE (Germany)
DRRSF: OTC BB (USA)

SAGUENAY, QC, Oct. 22, 2015 /CNW/ - (TSX VENTURE: DAN) (FRANKFURT: JE9N) (OTCBB: DRRSF), a development-stage phosphate mining company, advancing the Lac à Paul project in Quebec's Saguenay-Lac-Saint-Jean region, has closed on its previously announced (see Press Release dated October 8, 2015) secured credit facility.  The expanded facility was provided by existing lenders and now totals $18.75 Million.  Maturity of the facility will be December 31, 2017 and will supplement the current credit facilities totaling $12.5 million (plus accrued interest) that was set to expire December 31, 2015.  The additional amount can be drawn down as required by the Company.

The secured credit facility will bear interest at an annual rate equal to 6.25% with all interest capitalized through the end of the facility. Additionally, the Company will issue the lender 7.5 Million non-transferable warrants, of which 5 Million warrants have an exercise price of $0.86/share and 2.5 Million warrants with an exercise price of $1.08/share. All the warrants are exercisable through December 31, 2017.  In connection with this transaction, Arianne will pay an arrangement fee of $45,669 to the agent and a commitment fee of $91,338 to the lender.

All securities issued in connection with the transaction are subject to a mandatory hold period of four (4) months ending on February 21, 2016. The transaction is subject to the final approval of the TSX Venture Exchange

About Arianne Phosphate
Arianne Phosphate ("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 are expected to produce a high quality igneous apatite concentrate grading 39% P₂O₅ with little or no contaminants (please refer to the Company's Feasibility Study and Technical Report in support thereof dated October 24, 2013, a copy of which is available on SEDAR at www.sedar.com). The Company has 95,325,755 million shares outstanding.

Jean-Sébastien David, P.Geo., Qualified Person under NI 43-101, has approved this release. Mr. David is also the Company's Chief Operating Officer.

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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Cautionary Statements Regarding Forward Looking Information
This news release contains "forward-looking statements" and "forward-looking information" within the meaning of applicable securities regulations in Canada and the United States (collectively, "forward-looking information"). Forward-looking information includes, but is not limited to, anticipated quality and production of the apatite concentrate at the Lac à Paul project. Often, but not always, forward-looking information can be identified by the use of words such as "plans", "expects, "is expected", "budget", "scheduled", "estimates", forecasts", "intends", "anticipates", or "believes", or the negatives thereof or variations of such words and phrases or statements that certain actions, events or results "may", "could", "would", "might", or "will" be taken, occur or be achieved. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking information, including but not limited to: volatile stock price; risks related to changes in commodity prices; sources and cost of power facilities; the estimation of initial and sustaining capital requirements; the estimation of labour and operating costs; the general global markets and economic conditions; the risk associated with exploration, development and operations of mineral deposits; the estimation of mineral reserves and resources; the risks associated with uninsurable risks arising during the course of exploration, development and production; risks associated with currency fluctuations; environmental risks; competition faced in securing experienced personnel; access to adequate infrastructure to support mining, processing, development and exploration activities; the risks associated with changes in the mining regulatory regime governing the Company; completion of the environmental assessment process; risks related to regulatory and permitting delays; risks related to potential conflicts of interest; the reliance on key personnel; financing, capitalization and liquidity risks including the risk that the financing necessary to fund continued exploration and development activities at Lac à Paul project may not be available on satisfactory terms, or at all; the risk of potential dilution through the issue of common shares; the risk of litigation. Forward-looking information is based on assumptions management believes to be reasonable at the time such statements are made, including but not limited to, continued exploration activities, no material adverse change in commodity prices, exploration and development plans proceeding in accordance with plans and such plans achieving their stated expected outcomes, receipt of required regulatory approvals, and such other assumptions and factors as set out herein. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in the forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such forward-looking information. Accordingly, readers should not place undue reliance on forward-looking information. Forward-looking information is made as of the date of this press release, and the Company does not undertake to update such forward-looking information except in accordance with applicable securities laws.

SOURCE Arianne Phosphate Inc.