Arianne Phosphate Inc. (TSXV:DAN) announced a private placement of 9,999,998 units issued at a price of CAD 0.15 per unit, for gross proceeds of CAD 1,500,000 on June 10, 2020. Each unit consisted of one common share and a half warrant, with a full warrant, exercisable at a price of CAD 0.20 until June 10, 2023. The securities issued in the transaction are subject to a regulatory hold period of four months and one day expiring on October 11, 2020. The transaction is subject to the final approval of the Exchange. The transaction included participation from 11 placees, including Steven Pinney, Claude Lafleur who subscribed for an aggregate of 166,666 units each for aggregate proceeds of CAD 50,000, returning investor Investissement Quebec who subscribed for 3,333,333 units for proceeds of CAD 499,999.95 as well as existing institutional and included funds. TSX Venture Exchange has accepted filing documentation with respect to the transaction. As part of the transaction, Investissement Quebec's stake increased from 6.98% to 9.12% in the company. The company intended to continue the transaction for more than one year. The company received CAD 227,698.312 from 5 investors, pursuant to exemption provided under Regulation D.