The TSX Venture Exchange has consented to the extension of the following warrants of Arianne Phosphate Inc.

Number of warrants:  1,217,500

Expiry date of warrants:  July 29, 2015

New expiry date of warrants:  Jan. 27, 2017

Exercise price of warrants:  $1.45

These warrants were issued pursuant to a private placement of a total of 2,435,000 common shares and 1,217,500 warrants, as approved by the exchange on Aug. 7, 2013.