Arianne Phosphate Inc. (TSXV:DAN) announced a private placement transaction of 1,700,100 units at a price of CAD 0.25 per unit for gross proceeds of CAD 425,025 on February 13, 2020. Each unit will consist of one common share and one-half warrant. Each full warrant entitles the holder to purchase one common share at a price of CAD 0.40 until February 13, 2023. The round included participation from directors and officers of the company who subscribed for 180,000 units for aggregate proceeds of CAD 45,000. The company paid finder fees in the amount of CAD 3,000 in the transaction. The securities issued in the transaction are subject to a hold period till June 14, 2020. The transaction is subject to the final approval of the Exchange. The company will close an additional round of financing. The company raised $173,507 (CAD 230,001) from three investors pursuant to Regulation D. he transaction included participation from 8 placees. The transaction included participation from insiders of the company, Dominique Bouchard for 100,000 shares and Marco Gagnon for 80,000 shares. The company paid finders fees of CAD 3,000 in relation to the transaction.