Arianne Phosphate Receives Additional Funding From the Government of Quebec for its Lac ? Paul Project
DAN: TSX-V (Canada)
JE9N: FSE (Germany)
DRRSF: OTC (USA)
SAGUENAY, QC, April 3, 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 phosphate rock project in Quebec's Saguenay-Lac-Saint-Jean region, is pleased to announce that it has received a grant of $ 1.5 million from the Ministry of Energy and Natural Resources of Quebec. This funding has been provided as part of the Government's plan to help advance the Quebec phosphate (apatite) sector. Arianne will be using this funding in support of its previously announced (see Press Release dated November 8, 2017) program to produce additional high-purity phosphate concentrate to fulfil demand from potential customers and, to conduct further pilot-scale tests.
"Demand continues to grow on the part of potential customers," said Jean-Sébastien David, Chief Operating Officer of Arianne Phosphate. "Many of those interested have already received product samples and are now asking for even larger volumes to carry out large-scale tests in their own facilities. Further, legislative changes in Europe regarding cadmium content in phosphate entering the EU, and, supply disruptions out of certain phosphate-producing regions have continued to push new requests for Arianne's concentrate."
"We welcome the Government's support," added Brian Ostroff, Arianne's CEO. "Seeing Quebec step up with very tangible assistance for the sector, I think, shows the potential for creating a major new industry for the Province and an effort to see our Lac a Paul project succeed. These funds will allow us to attract the customers we need to conclude on our project financing."
This grant of $1.5 Million follows on an equity investment that was made by the Province last month (see Press Release dated March 15, 2018) for $1.4 Million and shows the growing support to see this important project become a reality. "The quality of the concentrate produced from the Arianne Phosphate deposit will demonstrate to the international market the interest of investing in the project and will encourage the signing of firm purchase agreements for the Company," said Mr. Pierre Moreau, Quebec's Minister of Energy and Natural Resources and, Minister in charge of the Plan Nord. Mr. Serge Simard, member of Quebec's National Assembly for the riding of Dubuc added, "the [Arianne] project to develop this resource not only contributes to diversifying economic activity in the region, but is also consistent with regional priorities stemming from the Saguenay-Lac-Saint-Jean Economic Summit…."
The tests will be conducted at COREM (Research Consortium for the Treatment and Processing of Mineral Substances) in Quebec City, where the Company conducted its previous pilot-scale tests, and, materials will be sent to parties that have expressed a strong interest in pursuing some form of offtake and/or a strategic partnership with Arianne.
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.
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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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