ARIANNE PHOSPHATE APPOINTS DR. RAEF SULLY TO THE COMPANY -former Nutrien Ltd. CEO of Nitrogen & Phosphate to act as a strategic advisor DAN: TSX-V ( Canada ) JE9N: FSE ( Germany ) DRRSF: OTC ( USA )
ARIANNE PHOSPHATE APPOINTS DR. RAEF
SULLY TO THE COMPANY
-former Nutrien Ltd. CEO of Nitrogen & Phosphate to act as a strategic advisor
DAN: TSX-V (
Canada
)
JE9N: FSE (
Germany
)
DRRSF: OTC (
USA
)
SAGUENAY, QC
,
Nov. 29, 2022
/CNW Telbec/ -
Arianne Phosphate (the "Company" or
"Arianne")
(TSXV: DAN) (OTC: DRRSF) (FRANKFURT: JE9N), a development-stage phosphate
mining company, advancing its Lac à Paul project in
Quebec's
Saguenay-Lac-Saint-Jean region, is
pleased to announce that Dr.
Raef Sully
has joined the Company as a strategic advisor. Dr. Sully
comes to Arianne as a 10-year veteran of Nutrien Ltd. (and its predecessor Potash Corp.), having
most recently served as its Executive Vice President and CEO of their nitrogen and phosphate
divisions. As head of these divisions, Dr. Sully was responsible for the leadership of its sizeable
workforce and multi-billion-dollar revenue and EBITDA streams. Previous to his role at Nutrien Ltd.,
Dr. Sully was with Bain & Company in both
Sydney, Australia
and
Houston, Texas
.
"During my time in the industry, I have watched Arianne and am impressed with what the project has
become," said Dr. Sully. "Today, aside from the excellent quality fertilizer it will produce, I am
particularly excited about its opportunity in emerging industrial and battery applications. Arianne's
ability to produce such a high-purity concentrate will provide the Company a significant opportunity in
these specialty markets. I believe that my experience with large-scale development, along with my
industry contacts and knowledge should help Arianne unlock its significant potential."
Dr. Sully will be beginning his role with Arianne immediately, interfacing with the Company's
management as they pursue their ongoing discussions with potential partners and off-takers. Arianne
owns the Lac à Paul phosphate project in
Quebec
and has demonstrated the ability to produce a
very high-purity/low-contaminant concentrate suitable for use in both fertilizer and specialty
applications, such as the lithium-iron phosphate ("LFP") battery.
"We are very excited to have Raef on the team and he comes with a wealth of experience and
contacts," added
Brian Ostroff
, President of Arianne Phosphate. "Knowing Raef over the years in his
previous roles, I believe his guidance will be invaluable to our ongoing discussions. As well, coming
from the perspective of a larger producing company, he will have interesting insight into where our
product will be most needed."
In conjunction with Dr. Sully's appointment, the Company will issue 200,000 options. These Options
entitle him to purchase one common share of the Company until
November 29, 2024
at a price of
$0.355
per share, this being the closing price of the Company's shares on the trading day preceding
the date of the grant. As well, the Company has granted 400,000 options to members of the Board
of Directors. Each Option entitles the holder to purchase one common share of the Company until
November 29, 2032
at a price of
$0.355
per share, this being the closing price of the Company's
shares on the trading day preceding the date of the grant. These Options are all subject to
respective vesting periods and 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% P
2
O
5
with little or no contaminants (Feasibility Study released in 2013). The Company has
190,037,348 shares outstanding.
Qualified
Person
Raphael Gaudreault
, eng., Qualified Person by NI 43-101, has approved this release. Mr.
Gaudreault is also the Company's Chief Operating Officer.
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 labor 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.
View original content:
http://www.newswire.ca/en/releases/archive/November2022/29/c0388.html
%SEDAR: 00003556E
For further information:
Source: Raphael Gaudreault, COO, Tel. : 418-590-1318,
[email protected]; Info: Brian Ostroff, President, Tel. : 514-908-4202,
CO: Arianne Phosphate Inc.
CNW 07:00e 29-NOV-22