GRAND CAYMAN, Cayman Islands, Feb. 25, 2026 /CNW/ - Mercury Financing Corp. ("Mercury") announces that it has voluntarily surrendered to Arianne Phosphate Inc. ("Arianne") for cancellation, for no consideration, an aggregate of 37,000,000 warrants ("Warrants") to purchase common shares in the capital of Arianne ("Common Shares") having an exercise price of $0.33 per Common Share and an expiry date of March 31, 2026 (the "Cancellation"). The Cancellation occurred because, among other reasons, the Warrants were out-of-the money and held no economic value for Mercury.

Prior to the Cancellation, Mercury beneficially owned or controlled 37,000,000 Warrants, representing 14.76% of the outstanding Common Shares on a partially-diluted basis, assuming that all such Warrants were to be exercised. Mercury did not beneficially own or control any Common Shares. Following the Cancellation, Mercury no longer beneficially owns or controls any Warrants, nor does it beneficially own or control any Common Shares.

In accordance with applicable securities laws, Mercury may, from time to time and at any time, acquire Common Shares or other equity, debt or other securities or instruments of Arianne (collectively, "Securities") through market transactions or otherwise, the whole depending on market conditions, the business and prospects of Arianne and other relevant factors. In addition, the Mercury and Arianne are currently discussing the potential extension of the loans granted by Mercury to Arianne dated August 12, 2012, July 29, 2013 and October 20, 2015, each as amended, all of which mature on March 31, 2026. Any such extension could involve additional Securities being issued in connection therewith. However, no definitive agreements, undertakings or commitments have been reached between the parties in this regard at this time.

Information contained in this news release is being issued in accordance with Regulation 62-103 respecting the Early Warning System and Related Take-Over Bid and Insider Reporting Issues in connection with the filing of an early warning report by Mercury. The early warning report respecting the Cancellation will be filed on SEDAR+ at www.sedarplus.ca under Arianne's profile.

To obtain a copy of the early warning report filed by Mercury, or for more information, please contact:

Mr. Paul Smith
Mercury Financing Corp.
Suite 4 - 210 Governors Square
P.O. Box 32311, Grand Cayman
KY1-1209, Cayman Islands
Tel.: +1 345 945 7676

SOURCE Mercury Financing Corp.