Arianne Phosphate (TSE:DAN) has released an update.
Arianne Phosphate is issuing over 6 million of its common shares instead of cash for its annual interest payment to Mercury Financing Corp, and has successfully negotiated a cap on its royalty buyback at $6.75 million. The company has also initiated a partnership with Impaq Capital Inc. for investor relation services, which includes a six-month agreement and the issuing of 150,000 stock options. This strategic financial management and investor relations enhancement come as the company continues to advance its Lac à Paul phosphate mining project in Quebec.
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