SAGUENAY, QC, April 14, 2014 - Arianne Phosphate (the “Company” or “Arianne”) (TSX VENTURE: DAN) (FRANKFURT: JE9N) (OTCBB: DRRSF), a development-stage phosphate company advancing the Lac à Paul Project in Quebec’s Saguenay region, today announced that in light of current market conditions, Arianne’s Board has amended the exercise price of the stock options recently issued to its Board and Torrey Hills Capital.
As announced on April 10 2014, Arianne issued a total of 445,000 stock options to its Board members and an additional 150,000 stock options to Torrey Hills Capital, an IR consultant, at an exercise price of $1.15 per share.
Effective today, the exercise price for each stock option has been amended to $1.30 per share. All other terms of the stock option issuance remain unchanged. The issuance of the options is consistent with the Company’s stock option plan.
About Arianne Phosphate
Arianne (www.arianne-inc.com) is developing the Lac à Paul Phosphate Rock Project located approximately 200 km north of the Saguenay Lac St. Jean area of Quebec, Canada. This mine will produce a high quality igneous apatite concentrate grading 38.6% P2O5 with little or no contaminants. The Company has 84.2 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.