AN AGREEMENT THAT WILL MAXIMIZE ECONOMIC IMPACT ON THE SAGUENAY LAC ST-JEAN REGION
SAGUENAY, QUEBEC - (October 04 2018) - 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 its association with the Saguenay Lac St-Jean Regional Economic Benefits Maximization Committee (CMAX). Referring to 02 Economic Development (02 ED); CMAX is a tool that was put in place to maximize the benefits of large projects. Arianne will benefit from the regional expertise of this group and have access to the expertise of some 2000 Saguenay Lac St-Jean companies
“This agreement will allow us to work in close collaboration with all regional stakeholders to build and operate our mine at Lac à Paul’’ said Jean-Sébastien David, Arianne Phosphate’s COO. "As a company created in Saguenay by local people, we are proud to work with local talent," concluded Mr. David.
"We are pleased to formalize this agreement with Arianne Phosphate Inc. We are confident that we will get the maximum benefits of this project for the region," says the chairman of the CMAX management committee and prefect of the ‘’MRC de Lac-Saint-Jean-Est’’, Mr. André Paradis.
Arianne announces a 430 000 stock options grant to members of the Board of Directors. Each Option entitles the holder to purchase one common share of the Company until October 03, 2028 at a price of $0.58 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 years vesting period under the Plan and the Policy, and are also subject to regulatory approval.
Also, subject to regulatory approval, Arianne will extend the term of 1,184,500 common share purchase warrants (“Warrants”) issued as part of a private placement which closed on October 16, 2014 for gross proceeds of $2,369,000. Each of the Warrants, which were part of the units being issued, entitles its holder to purchase one common share of Arianne at an exercise price of $1.25 per Common Share until October 15, 2018. Arianne has elected to extend the expiry date of the Warrants to October 15, 2019. No other Warrant terms are amended. Arianne will deliver a notice of extension to the registered holders of the Warrants.
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 (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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Source: Jean-Sébastien David, C.O.O. Tel. : 418-549-7316 firstname.lastname@example.org
Info: Brian Ostroff, C.E.O. Tel. : 514-908-4202 email@example.com
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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.