Arianne Phosphate Announces $5.0 Million Bought Deal Private Placement

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED STATES

SAGUENAY, Quebec, May 13, 2021 (GLOBE NEWSWIRE) -- Arianne Phosphate (the "Company" or "Arianne") (TSXV: DAN) (OTC: DRRSF) (FRANKFURT: JE9N) is pleased to announce that the Company has entered into an agreement with PI Financial Corp. on behalf of a syndicate of underwriters, including Redcloud Securities Inc. (“PI Financial” and collectively, the “Underwriters”), pursuant to which the Underwriters have agreed to purchase, on a “bought deal” private placement basis 10,000,000 units (the “Units”) of the Company for gross proceeds of C$5,000,000 (the “Offering”).

The Units will be offered by way of a private placement pursuant to exemptions from the prospectus requirements to residents of all provinces of Canada at a price of C$0.50 per Unit (the “Offering Price”). Each Unit shall consist of one common share (“Share”) and one-half of one transferable common share purchase warrant (each whole such common share purchase warrant, a “Warrant”). Each Warrant shall be exercisable into one additional common share (“Warrant Share”) of the Company for 24 months from the Closing Date at an exercise price of C$0.71.

The Company has granted the Underwriters an option to cover over-allotments (the “Underwriters’ Option”), which will allow the Underwriters to offer up to an additional 15% of the Offering, on the same terms as the Units. The Underwriters Option is exercisable by the Underwriters in whole or in part at any ‎time until 48 hours prior to the Closing Date.

The aggregate gross proceeds raised from the Units will be primarily used for the advancement of its Lac à Paul project and for general working capital purposes.

The Offering is expected to close on or about June 4, 2021 (the "Closing Date") and is subject to certain closing conditions including, but not limited to, the receipt of all necessary approvals including the conditional listing approval of the TSX Venture Exchange (the "Exchange"). The Shares issued under the Offering will be subject to a hold period in Canada expiring four months and one day from the closing date of the Offering. The Offering is subject to final acceptance of the Exchange.

This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

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 will produce a high quality igneous apatite concentrate grading 39% P2O5 with little or no contaminants (Feasibility Study released in 2013).

For Further Information, Please Contact:

Jean-Sébastien David	Brian Ostroff
COO	President
Phone: 418-549-7316	Phone: 514-908-4202
E-Mail: j.s.david@arianne-inc.com	E-Mail: brian.ostroff@arianne-inc.com