DAN: TSX-V (Canada)
JE9N: FSE (Germany)
DRRSF: OTC (USA)
SAGUENAY, QC, Aug. 30, 2018 /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 appointment of Mr. Claude Lafleur, agr, to the Company's Board of Directors.
Mr. Lafleur brings with him extensive experience in the agribusiness field, having served in senior management positions with several companies. For 16 years Mr. Lafleur was with Coop fédérée, including 8 years as its Chief Executive Officer. With its affiliated co-ops, Coop fédérée is Quebec's largest agri-food organization with annual sales of over CDN $9 Billion. As well, Mr. Lafleur was CEO of IFFCO Canada, the Canadian subsidiary of IFFCO (Indian Farmers Fertilizer Cooperative Limited), India's largest fertilizer manufacturer with annual sales of US $3 Billion. Currently, Mr. Lafleur is a member of Anges Quebec (Quebec Angels) Capital, a fund sponsored by Investissement Québec, Caisse de dépôt et placement du Québec and Fonds de solidarité FTQ and, continues to sit on several boards including Desjardins Groupe Assurance, a CDN $4,5 Billion enterprise.
"Claude's resume speaks for itself," said Dominique Bouchard, Executive Chairman of the Board of Arianne Phosphate. "Having served with large domestic and international companies, Claude will be able to share his knowledge with the board and management of Arianne. As well, over the years, Claude has assembled a strong network of industry and government contacts that he will be able to draw on as he assists Arianne in formalizing the final pieces necessary to put the Company's Lac à Paul project into production. On behalf of the Arianne team, we want to welcome Claude and look forward to working closely with him."
"I have been familiar with the Arianne project for several years and watched its development," said Claude Lafleur. "I believe this project is something special and is a necessity for the world as we look to feed our growing population. I am quite familiar with the challenges and rewards in seeing large projects come to fruition and I am excited to be part of this project. Ultimately, the development of Lac à Paul will be of great value to Arianne's shareholders, stakeholders and the Province of Quebec."
In conjunction with Mr. Lafleur's appointment to the Board, he has been granted 200,000 stock options. Each Option entitles the holder to purchase one common share of the Company until August 29, 2028 at a price of $0.41 per share, this being the closing price of the Company's shares on the trading day preceding the date of grant. The Options are subject to a three-year vesting period under the Plan and the Policy and are also subject to regulatory approval.
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 (Feasibility Study released in 2013). The Company has 105,803,943 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.