The Government of Quebec makes a $1.5 million investment in Arianne Phosphate DAN: TSX-V (Canada) JE9N: FSE (Germany) DRRSF: OTC (USA)
The Government of Quebec makes a
$1.5 million investment in Arianne
Phosphate
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.
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%SEDAR: 00003556E
For further information: Source: Jean-Sébastien David, C.O.O., Tel.
: 418-549-7316, [email protected]; Info: Brian Ostroff,
C.E.O., Tel. : 514-908-4202, [email protected]
CO: Arianne Phosphate Inc.
CNW 07:30e 07-MAY-19