SAGUENAY, QUÉBEC - (June 2nd, 2015) – Arianne Phosphate (the “Company” or “Arianne”) (TSX VENTURE: DAN) (FRANKFURT: JE9N) (OTCBB: DRRSF), a development-stage phosphate mining company, advancing the Lac à Paul project in Quebec’s Saguenay-Lac-Saint-Jean region, announced that Arianne shareholders re-elected Messrs. Pierre Fitzgibbon, Dominique Bouchard, Brian Ostroff, James Cowley, David DeBiasio, Marco Gagnon, Siva Pillay, and Steven Pinney as directors of the Company during the Annual General and Special Meeting of Shareholders of the Company held on May 28 in Montreal. Arianne shareholders also approved the other motions put forth including, the Company’s rolling stock option plan and the resolution to appoint PricewaterhouseCoopers (PWC) as the Company’s auditors for the current fiscal year.
“The Arianne team is pleased to have the full support of its board,” said Jean-Sébastien David, Arianne’s COO. “Our team has done a great job, allowing Arianne to achieve many of the milestones that it had set for itself. Most recently, having completed the end of our consultation period by the BAPE is another important step in the development of our Lac à Paul phosphate mine project.”
Subsequent to the shareholders’ meeting, Arianne’s Board of Directors confirmed the nominations of Mr. Pierre Fitzgibbon as Chairman and Mr. Dominique Bouchard as Vice-Chairman, respectively.
Grant of stock options
Arianne granted 470,000 stock options to the Board members of the Company. Each Option entitles the holder to purchase one common share of the Company until May 31, 2025 at a price of $0.85 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. The Company has 95,325,755 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.