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January 24, 2023
SAGUENAY, QUEBEC – Arianne Phosphate (the “Company” or “Arianne”) (TSX VENTURE: 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 the Company’s Board of Directors has named Mr. Marco Gagnon as Chairman, replacing Mr. Dominique Bouchard. Mr. Bouchard will remain on the Board but, has stepped away as Chairman for personal reasons. The Company wishes to thank Mr. Bouchard for his hard work during these past five years to ensure the progress of Arianne.
Mr. Gagnon is a professional geologist with 30 years management experience within the Canadian mining industry in a wide range of commodities from project exploration to mine production. Since 2004, Mr. Gagnon has held senior management positions including President and CEO of Adventure Gold, a company acquired by Probe Gold, where he currently serves as Executive Vice President and a member of their Board of Directors. Mr. Gagnon has served on the Board of Arianne since 2011.
As well, following the appointment of Dr. Raef Sully as an advisor to Arianne Phosphate (see Press Release dated November 29, 2022), today the Company has announced that he will be joining the Company’s Board of Directors. Dr. Sully most recently served as Executive Vice President of Nutrien Ltd. and was CEO of their Phosphate and Nitrogen divisions, overseeing their operations, as well as strategic and financial matters. Previous to his roles at Nutrien Ltd., and its predecessor Potash Corp., Dr. Sully was with Bain & Company in both Australia and the United States.
Marco Gagnon, Arianne’s new Chairman, states. “Being involved with Arianne for many years, I have seen the Company advance its world-class Lac a Paul project from exploration to what is today, the world’s largest, purest and safest phosphate rock project. Today, with a fully permitted project, the increased demand for phosphate and, a higher price, we see a bright future for Arianne’s phosphate concentrate. I am excited to take on my new responsibilities and very pleased to work with the team in place and with our newcomer on the Board Dr. Sully, who will bring a unique expertise to our team.”
Dr. Sully added, “aside from the growing demand for phosphate to meet the agricultural needs of fertilizer and animal feeds, there is also rapidly growing demand for high-purity phosphate for industrial purposes. Further accelerating this demand is the advent of the lithium-iron-phosphate (“LFP”) battery which will make a tight market tighter. As Arianne has demonstrated, our phosphate is ideal for these advanced applications, making it a very sought-after material.”
In conjunction with their respective appointments, Arianne Phosphate has issued 360,000 options. Each Option entitles the holder to purchase one common share of the Company until January 24, 2033 at a price of $0.34 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% P2O5 with little or no contaminants (Feasibility Study released in 2013). The Company has 190,187,348 shares outstanding.
Raphael Gaudreault, eng., Qualified Person by NI 43-101, has approved this release. Mr. Gaudreault is also the Company’s Chief Operating Officer.
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Source : Raphael Gaudreault, COO Tel. : 418-590-1318 [email protected]
Info: Brian Ostroff, President Tel. : 514-908-4202 [email protected]
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