Arianne Phosphate names Dominique Bouchard as Executive Chairman of the Board of Directors
DAN: TSX-V (Canada)
JE9N: FSE (Germany)
DRRSF: OTC (USA)
SAGUENAY, QC, Dec. 14, 2017 /CNW Telbec/ - Arianne Phosphate (the "Company" or "Arianne") (TSX VENTURE: DAN; OTC: DRRSF; FRANKFURT: JE9N), a development-stage phosphate mining company, advancing the Lac à Paul phosphate rock project in Quebec's Saguenay-Lac-Saint-Jean region, has today named Mr. Dominique Bouchard as Executive Chairman of its Board of Directors. Mr. Bouchard's appointment was unanimously approved by the Company's Board of Directors. Mr. Bouchard has been a member of Arianne's Board since 2013 and his new position follows his previous role as Arianne's Executive Vice Chairman.
Mr. Bouchard has been Vice Rector of Resources between 2014 and 2017 at the Université du Québec in Chicoutimi. He is also a 33-year veteran of the Alcan and Rio Tinto organizations, having most recently served as President of Rio Tinto Quebec Iron & Titanium until his retirement in May 2013. Prior to that, Mr. Bouchard held the position of Vice President Primary Metal within Rio Tinto Alcan from March 2005 to February 2010. He was responsible for the operations and implementation of the strategy development for Primary Metal Saguenay-Lac-Saint-Jean. Dominique holds a Master's degree in Management from McGill University, graduated from the International Master's Programme in Practicing Management (IMPM) from INSEAD University in France and obtained an Electrical Engineering degree from Laval University. Mr. Bouchard is also a graduate of the Institute of Corporate Directors.
"I believe I am well suited for my new role as Executive Chairman," said Dominique Bouchard. "As a native to the Saguenay region, I have a fundamental understanding of how important the Lac à Paul project is, and, the benefit it will bring to the community. Having spent many years in Québec, both in a personal and professional capacity, it has allowed me to build a strong network of contacts that I will draw on to help get this project done. Further, I look forward to continuing my strong working relationship with Brian, our CEO. We have a strong understanding of each other's strengths and responsibilities and, we work well as a team."
"On behalf of the Board, the Management and the entire Arianne team, I want to welcome Dominique to his new position," said Brian Ostroff, CEO of Arianne Phosphate. "I have had the opportunity to work with Dominique over the years and think he is very well suited to his new position; I look forward to advancing our project together. Having been on the Board for several years Dominique will bring a high level of continuity and can hit the ground running. Lastly, on a personal note, I have enjoyed working closely with Dominique in the past and look forward to his more active role as Executive Chairman."
In conjunction with Mr. Bouchard's new position, he has been awarded 40,000 stock options. Each Option entitles the holder to purchase one common share of the Company until December 13, 2027 at a price of $0.62 per share, this being the closing price of the Company's shares on the trading day preceding the date of grant. The Options are subject to a three-year vesting period under the Plan and the Policy, and are also 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% P2O5 with little or no contaminants. The Company has 100,530,580 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.
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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.
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