DAN: TSX-V (Canada)
JE9N: FSE (Germany)
DRRSF: OTC (USA)
SAGUENAY, QC, June 28, 2016 /CNW/ - Arianne Phosphate (the "Company" or "Arianne") (TSX VENTURE: DAN; OTC: DRRSF; FRANKFURT: JE9N), a development-stage phosphate mining company, advancing the Lac à Paul project in Quebec's Saguenay-Lac-Saint-Jean region is pleased to announce that they have engaged Endeavour Financial ("Endeavour") to act as their project finance advisor. Endeavour's role will be to work with management in reviewing various financing strategies and assist in discussions with potential lenders and partners.
"The engagement of Endeavour is very timely," said Brian Ostroff, CEO of Arianne Phosphate Inc. "Since receiving our permit we have been in discussions with and received indications of interest by potential financers and partners. Endeavour's experience and successful track record in securing project financing is well placed as we look to successfully conclude on a financing package that will move our Lac à Paul project into the construction phase."
Endeavour Financial is a private independent merchant banking company focused on providing expert and unbiased financial advisory services to the global natural resources sector. Endeavour Financial has a history of achieving success for clients based on resource industry focus, innovative transaction skills and the diverse professional backgrounds of its award-winning team. Offering advice in project, corporate and debt capital markets; equity-linked financings; mergers and acquisitions; and strategic business development over more than two decades, Endeavour Financial has established itself as a leading financial advisor in the natural resources sector. Specific to the mining sector, in the last ten years the firm has closed in excess of US$ 4 billion of development financings for single-asset emerging producers
In conjunction with this engagement, Arianne has granted to Endeavour 200,000 options exercisable at $0.98 for a period of 3 years, expiring June 28, 2019. These options vest upon either the closing of a project financing or as the result of an alternate transaction that may, amongst other things, result in a change of control.
Jean-Sébastien David, P.Geo., Qualified Person by NI 43-101, has approved this release. Mr. David is also the Company's Chief Operating Officer.
About Arianne Phosphate
Arianne Phosphate ("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. The Company has 97,225,755 million shares outstanding.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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SOURCE Arianne Phosphate Inc.
For further information: Source: Jean-Sébastien David, C.O.O., Tel. : 418-549-7316, [email protected]; Info: Joe Racanelli, Tel.: 416-586-1943, [email protected]; Brian Ostroff, C.E.O., Tel.: 514-908-4202, [email protected]; Medias: Karyna Tremblay, Community Relations Coordinator, Tel.: 418-549-7316, [email protected]