DAN: TSX-V (Canada)
JE9N: FSE (Germany)
DRRSF: OTC (USA)
SAGUENAY, QC, March 15, 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 is pleased to announce that it has
received an investment from the Government of Quebec by way of private placement of
$1,407,000 into the common shares of
Arianne.
![Logo: Arianne Phosphate Inc. (CNW Group/Arianne Phosphate Inc.) Logo: Arianne Phosphate Inc. (CNW Group/Arianne Phosphate Inc.)](https://mma.prnewswire.com/media/654408/Arianne_Phosphate_Inc__Arianne_Phosphate_Receives_an_Investment.jpg)
"By making this investment, the Government of Quebec is helping to pave the way forward for
this important project." said Brian
Ostroff, CEO of Arianne Phosphate. "This is the second
investment that Arianne has received from the Government and, I
believe, is an acknowledgement of the progress that we have made
towards advancing the project. The development of Lac à Paul will
strengthen the region's economy, providing several thousand jobs
and pioneering a new long-lasting industry for Quebec. It also helps to move the asset
towards development to the benefit of stakeholders and, of course,
provides the Province with the added economic benefit of being a
shareholder in this asset. I look forward to their continued
support as the project moves through the project financing
stage."
Under the terms of the offering, the Government of Quebec is subscribing for 2,233,333 Units of
the Company (the "Units") at a price of $0.63 per Unit. The units consist of one common
share (the "Common Share") and one half common share purchase
warrant (each whole warrant being a "Warrant"). Each full Warrant
entitles its holder to purchase one common share at a price equal
to $0.85 for a period of thirty-six
(36) months following the closing date, expiring on March 14, 2021. If at any time after four (4)
months and one (1) day following the closing date, the trading
price of the Common Shares on the TSX Venture Exchange is equal to
or exceeds $1.25 for ten (10)
consecutive trading days, as evidenced by the price at the close of
market, the Company shall be entitled to notify the holders of
Warrants of its intention to force the exercise of the Warrants.
Upon receipt of such notice, the holders of the Warrants shall have
30 days to exercise the Warrants, failing which the Warrants will
automatically expire. The securities issued in connection with the
financing are subject to a regulatory hold period of four (4)
months and one (1) day expiring on July 15,
2018. The financing remains subject to the final approval of
the Exchange.
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.