SAGUENAY, QC, June 4, 2014 - 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 Quebec’s Saguenay region, announced the voting results of its annual and special meeting of shareholders held today in Montreal.
Arianne shareholders elected Messrs. Pierre Fitzgibbon, Dominique Bouchard, Brian Ostroff, James Cowley, David DeBiasio, Marco Gagnon, Siva Pillay, and Steven Pinney as directors of the Company.
Arianne shareholders also approved an amendment to the Company’s stock option plan, limiting the number of common shares that may be reserved for stock options to 10% of the number of issued and outstanding common shares of the Corporation at the time of the grant. As required by the TSX Venture Exchange, the options granted since the adoption of a previously amended stock option plan on June 25, 2013, were ratified and confirmed by the disinterested shareholders. Full details were described in the Management’s Information Circular dated May 2, 2014and available via SEDAR.
Shareholders also approved the resolution to appoint PricewaterhouseCoopers (PWC) as the Company’s auditors for the current fiscal year.
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.
Mr. Fitzgibbon has more than 30 years of experience in Operations, Finance, Corporate and Strategic Development in Canadian and international markets, and is currently President and CEO of Atrium Innovations, He worked previously National Bank of Canada as Chief Financial Officer and Vice Chairman Corporate and Investment Banking. Mr. Fitzgibbon also served for on the Board of the Caisse de Dépôt et Placement du Québec.
Mr. Bouchard is a 33-year veteran of the Alcan and Rio Tinto organizations, having most recently served as President of Rio Tinto Iron & Titanium until his retirement in May, 2013. Previously, Mr. Bouchard held the position of Vice President Primary Metal within Rio Tinto Alcan from March 2005 to February 2010. He was responsible for the operations and implementation of the strategy development for Primary Metal Saguenay-Lac-Saint-Jean.
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 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.
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.