The management of Arianne Resources Inc. (“Arianne” or the “Company”) is pleased to announce the appointment of Mr. Guthrie J. Stewart as director and Corporate Secretary of the Company.
Mr. Stewart has over 25 years experience in the field of private equity investments, senior management and corporate law. Until December 2007, Mr. Stewart was a partner of the Equity Fund of EdgeStone Capital Partners, a leading private equity firm in Canada now owned by GMP Capital Inc.
Stewart currently sits on a number of Boards, including that of Orbit Garant Drilling (OGD: T) on which he serves as Chairman . He is also an Adjunct Professor with the McGill University Desautels Faculty of Management. From 1992 to 2000, Mr. Stewart held various executive management positions with the Teleglobe group. Mr. Stewart began his education studying undergraduate science at Queen’s University and earning an LL.B. from Osgoode Hall Law School. He also holds a Master of Business Administration degree from INSEAD, Europe.
“We are pleased to welcome Mr. Stewart to the Board of Directors at Arianne. His appointment greatly strengthens our team as we move toward production at Lac à Paul. Guthrie brings a wealth of experience in development and financing of major projects, including our very own Lac à Paul phosphate project in Quebec. ” commented Bernard Lapointe, CEO of the Company.
In connection with the appointment of Mr. Stewart, the Board of Directors has granted him 250,000 incentive stock options pursuant to the Company’s stock option plan, exercisable at $1.76 per share for a 10 year term. This appointment is subject to acceptance by regulatory authorities.
Canada Phosphate (www.canadaphosphate.com ) is the wholly owned subsidiary of Arianne Resources developing the Lac à Paul phosphorus-titanium deposits. These deposits should produce a high quality igneous apatite concentrate grading about 40% P2O5 with little or no contaminant. Arianne (www.arianne-inc.com ) is a Canadian exploration company whose primary mission is to explore and develop gold, silver and other metal deposits in Canada and Mexico.
The Company has 65 million shares outstanding.