DAN: TSX-V (Canada)
JE9N: FSE (Germany)
DRRSF: OTC (USA)
SAGUENAY, QC, May 7, 2019 /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 closed on a $1.5 million investment from the Government of
Quebec by way of private placement
into the common shares of Arianne.
"The last six months have been very significant for Arianne as
it has advanced its project towards development," said Brian Ostroff, CEO of Arianne Phosphate. "With
executed offtake agreements, permits in place and, a strong global
awareness of our Lac à Paul asset, I believe that we are making
very solid progress towards the development of this mine. 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. I appreciate
the support of the Government in helping us to make this happen and
look forward to their continued support as the project moves
through the project financing stage."
"The phosphate industry is one of opportunity and strategic
importance for the Province of Quebec," said Dominique Bouchard, executive chairman of the
board of director. "Arianne Phosphate, the owner of the Lac à Paul
Project, is well placed to pioneer this industry and generate
tremendous socio-economic benefits for the region. Further, given
the clean and high-quality nature of the phosphate concentrate that
will be produced, it is in keeping with the goal of being a good
steward of the environment while generating opportunity for all
stakeholders."
Under the terms of the offering, the Government of Quebec is subscribing for 3,671,970 common
shares of the Company at a price of $0.4085 per share; this price representing the
5-day volume weighted average price preceding the pricing of the
financing. 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 September 6,
2019. The financing remains subject to the final approval of
the Exchange.
Qualified Person
Jean-Sébastien
David, P.Geo., Qualified Person by NI 43-101, has approved this
release. Mr. David is also the Company's Chief Operating
Officer.
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
(Feasibility Study released in 2013). The Company has 109,475,913
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 be 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 approval, 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.