- Confirms 115 megawatt (MW) block of electricity at preferential industrial sector rate-
DAN: TSX-V (Canada)
JE9N: FSE (Germany)
DRRSF: OTC BB (USA)
SAGUENAY, QC, June 18, 2014 /CNW/ - Arianne Phosphate (the "Company" or "Arianne") (TSX VENTURE: DAN) (FRANKFURT: JE9N) (OTCBB: DRRSF), a development-stage phosphate company advancing the Lac à Paul Phosphate Project in Québec's Saguenay region, is pleased to announce that it has secured a favourable power agreement with the Ministry of Energy and Natural Resources. The agreement confirms that 115-MW of power from Hydro-Québec will be made available for the Lac à Paul Project at a preferential and reduced rate (Rate L). Details of the agreement were laid out in a letter to Arianne dated May 21, 2014.
The agreement further strengthens the economics of the Lac à Paul Project, allowing the Company to produce its high quality phosphate concentrate at favourable operating costs.
Arianne Phosphate's Chief Operating Officer Jean-Sébastien David said, "This agreement continues to demonstrate the Québec Government's support for the Lac à Paul Project and is further evidence of the significant economic benefits that Lac à Paul will bring to both Québec and the Saguenay-Lac-Saint-Jean region. We would like to thank the Government of Québec for their continued support of our world-class project."
About Arianne Phosphate
Arianne Phosphate ("Arianne Phosphate Inc.") (www.arianne-inc.com) is developing the Lac à Paul Phosphate Project which is located approximately 200 km north of the Saguenay/Lac St. Jean area in Quebec, Canada. As per Arianne's October 2013 Bankable Feasibility Study, the Project will produce a high quality igneous apatite concentrate grading 39% P2O5 with little or no contaminants. The Company has 87, 087, 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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Forward Looking Statements and 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"). The forward-looking information contained in this news release is made as of the date of this news release. Except as required under applicable securities legislation, the Company does not intend, and does not assume any obligation, to update this forward-looking information. Forward-looking information includes, but is not limited to, anticipated effect of the additional metallurgical tests on the Project, and timing and expectations of future work programs. 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. Any forward-looking statement speaks only as of the date on which it is made and except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking statement.
SOURCE: Arianne Phosphate Inc.
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