Arianne Phosphate announces MOU agreement with FLSmidth to act as key supplier to the Lac à Paul project
Includes commitment to introduce and assist with potential financing options
DAN: TSX-V (Canada)
JE9N: FSE (Germany)
DRRSF: OTC (USA)
SAGUENAY, QC, April 11, 2017 /CNW Telbec/ - Arianne Phosphate (the "Company" or "Arianne") (TSXV: 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 the signing of a memorandum of understanding ("MOU") agreement with FLSmidth to provide all production equipment and engineering for the future plant, in collaboration with the various key suppliers involved in the Lac à Paul project development.
"Over the last few months, Arianne has been focusing its actions on bringing together industry leaders and experts to successfully undertake the Lac à Paul project," said Jean-Sébastien David, Arianne's COO. "These partnerships help to improve and optimize the project as a whole. The signing of this agreement with FLSmidth, a recognized global leader that provides products and services to the global mining industry, brings us another step toward its realization."
As with other recent agreements, partners selected come with both strong technical ability as well as the ability to assist Arianne in sourcing the necessary financing solutions. To this end, FLSmidth has introduced Arianne's Lac à Paul project to the official Danish Export Credit Agency Eksport Kredit Fonden (EKF), an agency that has been in place since 1922, supporting commercial agreements by assisting with credit arrangements.
"The process of bringing Lac à Paul into development and unlocking the enormous economic value for our shareholders and stakeholders continues to move forward," said Brian Ostroff, the CEO of Arianne Phosphate. "This is not just Arianne alone anymore and, when taken in conjunction with other recent announcements that have involved major global players, one can see the interest by many in getting this project done. Rio Tinto, Hydro-Québec, Constructions Proco, ABB, SNC Lavalin, Cegertec and now FLSmidth have all signed agreements and momentum is clearly in place. Lastly, with the assistance of some of these groups to help us source workable financing solutions, the questions around our financing strategy have gone a long way towards being answered."
"FLSmidth is a leader in phosphate processing technologies covering the full flowsheet. This is one of the largest phosphate greenfield projects in the world; we look forward to providing our expertise in equipment and processes to ensure optimal productivity with the lowest total cost of ownership," says Group Executive Vice President for FLSmidth's Minerals Division, Manfred Schaffer.
About FLSmidth
FLSmidth is the market-leading supplier of productivity to the global mining and cement industries. Headquartered in Copenhagen, Denmark, and with offices in more than 50 countries, FLSmidth delivers engineering, equipment and service solutions to customers worldwide. Productivity, sustainability, and quality are focus areas for the 12,000 employees in FLSmidth. The company generated revenue of DKK 18 billion in 2016. Read more on www.flsmidth.com.
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 97,648,080 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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Cautionary Statements Regarding Forward Looking Information
This news release contains "forward-looking statements" and "forward-looking information" within the meaning of applicable securities regulations in Canada and the United States (collectively, "forward-looking information"). Forward-looking information includes, but is not limited to, anticipated quality and production of the apatite concentrate at the Lac à Paul project. Often, but not always, forward-looking information can be identified by the use of words such as "plans", "expects, "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", or "believes", or the negatives thereof or variations of such words and phrases or statements that certain actions, events or results "may", "could", "would", "might", or "will" be taken, occur or be achieved. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking information, including but not limited to: volatile stock price; risks related to changes in commodity prices; sources and cost of power facilities; the estimation of initial and sustaining capital requirements; the estimation of labour and operating costs; the general global markets and economic conditions; the risk associated with exploration, development and operations of mineral deposits; the estimation of mineral reserves and resources; the risks associated with uninsurable risks arising during the course of exploration, development and production; risks associated with currency fluctuations; environmental risks; competition faced in securing experienced personnel; access to adequate infrastructure to support mining, processing, development and exploration activities; the risks associated with changes in the mining regulatory regime governing the Company; completion of the environmental assessment process; risks related to regulatory and permitting delays; risks related to potential conflicts of interest; the reliance on key personnel; financing, capitalization and liquidity risks including the risk that the financing necessary to fund continued exploration and development activities at Lac à Paul project may not be available on satisfactory terms, or at all; the risk of potential dilution through the issue of common shares; the risk of litigation. Forward-looking information is based on assumptions management believes to be reasonable at the time such statements are made, including but not limited to, continued exploration activities, no material adverse change in commodity prices, exploration and development plans proceeding in accordance with plans and such plans achieving their stated expected outcomes, receipt of required regulatory approvals, and such other assumptions and factors as set out herein. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in the forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such forward-looking information. Accordingly, readers should not place undue reliance on forward-looking information. Forward-looking information is made as of the date of this press release, and the Company does not undertake to update such forward-looking information except in accordance with applicable securities laws.
SOURCE Arianne Phosphate Inc.
For further information: Source: Jean-Sébastien David, C.O.O., Tel. : 418-549-7316, [email protected]; Info: Brian Ostroff, C.E.O., Tel. : 514-908-4202, [email protected]
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