DAN: TSX-V (Canada)
JE9N: FSE (Germany)
DRRSF: OTC (USA)
SAGUENAY, QC, July 12, 2018 /CNW
Telbec/ - Arianne Phosphate (the "Company" or
"Arianne") (TSXV: DAN) (OTC: DRRSF) (FRANKFURT:
JE9N), a development-stage phosphate mining company, advancing
the Lac à Paul project in Quebec's
Saguenay-Lac-Saint-Jean region, announced that Arianne shareholders
have reelected Messrs. Dominique
Bouchard, Brian Ostroff,
James Cowley, David DeBiasio, Marco
Gagnon, Siva Pillay and Steven
Pinney as directors of the Company during the Annual General
Meeting of Shareholders of the Company held on July 10, 2018 in Montreal.
![Logo: Arianne Phosphate Inc. (CNW Group/Arianne Phosphate Inc.) Logo: Arianne Phosphate Inc. (CNW Group/Arianne Phosphate Inc.)](https://mma.prnewswire.com/media/717816/Arianne_Phosphate_Inc__Arianne_Phosphate_Announces_Election_Resu.jpg)
"Interest in the project has definitely picked up," said
Brian Ostroff, CEO of
Arianne. "For five years, fertilizer prices had been in a
fairly steady decline which resulted in a more subdued environment
from which to attract potential partners despite, the continued
advancement of our Lac à Paul project. Since the beginning of
the year however, it seems to be a different story. Phosphate
prices have increased more than 20% and the industry seems to have
been caught a little flat-footed. The pace of our discussions
with potential partners, offtakers and financiers has accelerated
with this uptick and we look to capitalize on this change in
sentiment to conclude our financing package." Said Brian Ostroff, CEO of Arianne.
As well, subject to regulatory approval, Arianne will be
extending the term of 2,815,500 common share purchase warrants
("Warrants") issued as part of a private placement which closed on
July 31, 2014 for gross proceeds of $5,631,000. Each of the Warrants, which were part
of the units being issued, entitles its holder to purchase one
common share of Arianne (a "Common Share") at an exercise price of
$1.25 per Common Share until
July 31, 2018. Arianne has elected to
extend the expiry date of the Warrants to July 31, 2019. No other Warrant terms will be
amended. Arianne will deliver a notice of extension to the
registered holders of the Warrants.
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 103,570,610 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.
Follow Arianne
on:
Facebook: https://www.facebook.com/ariannephosphate
Twitter: http://twitter.com/arianne_dan
YouTube: http://www.youtube.com/user/ArianneResources
Flickr: http://www.flickr.com/photos/arianneresources
Resource Investing
News: http://resourceinvestingnews.com/?s=Arianne
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.
SOURCE Arianne Phosphate Inc.