Saguenay, Quebec – March 14, 2016 – Arianne Phosphate Inc. (the “Company” or “Arianne”) (TSX VENTURE: DAN; OTCBB: 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 additions to its board and management team with the appointment to the Board of Jean Lamarre as Chairman and Brian Ostroff as Chief Executive Officer.
Mr. Lamarre is President of Lamarre Consultants, and has 40 years of experience in international business development, finance, and corporate strategy. From 1977 through 1992, Mr. Lamarre held various positions of significant responsibility such as CFO with the Lavalin Group, one of the world’s largest engineering and construction firms providing EPC & EPCM services into numerous industries including a very significant presence in the mining industry. Mr. Lamarre serves on numerous boards of both public and private organizations including Chairman of Semafo Inc., a mid-sized gold producer in West Africa. During his 18-year involvement with Semafo, the Company has evolved from junior explorer to producer, having operated three mines and a current market cap of roughly $1.4 Billion. Mr. Lamarre also serves as Chairman of two influential Quebec media companies, Télé-Québec and Le Devoir.
“Jean is a welcome addition to our board,” said Pierre Fitzgibbon, board member of Arianne Phosphate. “His many years of experience, strong relationships with government and business leaders in Canada and abroad, and his track record of building large, industrial and mining projects will be invaluable as we enter the construction stage with our Lac à Paul project. We all look forward to working closely with Jean and I look forward to a smooth transition as I complete my mandate on the board through the next annual shareholder meeting.”
Mr. Ostroff has been a director of Arianne since 2014, providing leadership to the Company’s financing activities and interactions with the capital markets. Mr. Ostroff was a Managing Director of Windermere Capital, a firm focused on investments in the natural resource sector. Mr. Ostroff brings 30 years of capital markets experience, having previously held positions with several financial institutions including RBC Dominion Securities and Goodrich Capital across a spectrum of activities in trading, financing and mergers and acquisitions. Mr. Ostroff has specialized in the junior and mid-tier mining sector.
With Arianne’s recent receipt of its Ministerial Decree the project is now fully in development stage and the focus of the Company moves to discussions with partners and financers. “I look forward to working closely with the board, senior management including Chief Operating Officer Jean-Sebastien David and all stakeholders to make the Lac à Paul project a reality,” said Mr. Ostroff. “During my past involvement, I have watched first hand as Arianne has systematically advanced its early staged exploration asset to what is today the world’s largest Greenfield phosphate rock project, with a pre-tax NPV of US$1.9 billion that received a decree from the Government of Quebec and has the support of First Nations involved. Lac a Paul is the biggest and the best and it is now time to work with partners and the community to get this financed and built.”
In conjunction with these appointments, the Company has granted 350,000 options. Additionally, the Company has granted 25,000 to another member of the board. Each Option entitles the holder to purchase one common share of the Company until March 13, 2026 at a price of $0.81 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, 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 96,825,755 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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Jean-Sébastien David, C.O.O. Tel. : 418-549-7316 firstname.lastname@example.org
Joe Racanelli Tel. : 416-586-1943 email@example.com
Brian Ostroff, C.E.O. Tel. : 514-908-4202 firstname.lastname@example.org
Karyna Tremblay, Community Relations Coordinator
Tel.: 418-549-7316 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.