Arianne Phosphate names Pierre Fitzgibbon as A Strategic Advisor to the Company
Press Release
SAGUENAY, QUEBEC – (March 13, 2025) – Arianne Phosphate (the “Company” or “Arianne”) (TSX VENTURE: DAN; OTCQX: 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 Pierre Fitzgibbon will be joining the Company as a strategic advisor. In his role as strategic advisor, Mr. Fitzgibbon will provide guidance to Arianne’s management in regard to business strategy and help target potential partners for the development of the project.
Mr. Fitzgibbon, until September 2024, served as the Quebec Minister of Economy, Innovation and Energy, Minister Responsible for Regional Economic Development and Minister Responsible for the Montréal Region. During his time in this role, Mr. Fitzgibbon was a strong advocate for the mining industry in the Province and played an active part in advancing Quebec as a major player in the battery materials and critical minerals space. Before entering politics, Mr. Fitzgibbon held roles with several prominent financial firms including private equity firm Walter Capital Partners (Managing Partner) and National Bank Financial (Vice Chairman and CFO). Mr. Fitzgibbon also held several operating positions through his career, including President and CEO of Atrium Innovations, as well as Domtar and Peerless Carpet.
“I have watched the Arianne project advance since its early days when I was a member of the Board and beyond,” said Pierre Fitzgibbon. “As many know, I have long been a believer in the future of batteries and understand that Quebec has a key role to play in the North American/Western ecosystem. Further, I have always supported the notion of putting a structure in place to allow Quebec to transform its own critical mineral supply into the necessary downstream materials. When it comes specifically to phosphate, Arianne should play a key role as the industry increasingly looks to using LFP batteries and, I believe, that I can help the Company as it looks to make its project become a reality.”
“Pierre and I have known each other for many years, including during his time at Arianne, where we had a strong working relationship” said Brian Ostroff, President of Arianne Phosphate. “I look forward to us working together again and know that Pierre’s experience and network will help accelerate Arianne’s discussions with potential partners as we look to bring our project to fruition. Pierre has a very strong business sense, he is known internationally and, he has experience in advancing critical mineral projects here in Quebec.”
In 2024, phosphate was added to both Quebec and Canada’s critical mineral lists. Arianne owns the Lac à Paul phosphate project in Quebec, Canada. The Project hosts the world’s largest greenfield phosphate deposit, has easy access to existing infrastructure and is fully permitted. Due to the rare igneous nature of the deposit, Arianne can produce a very high-purity, low-contaminant phosphate concentrate that is easily transformed into purified phosphoric acid (“PPA”).
Beyond its use in fertilizer, phosphate, and in particular PPA, is a necessary ingredient for the lithium-iron-phosphate (“LFP”) battery. The LFP battery today is the most prominent of batteries due to its use in both EVs and energy storage systems and its continued rapid adoption will require more of the input ingredients. Today China represents over 95% of all LFP production and as the West looks to secure its own supply chain, Arianne’s project will be a necessity.
Regarding his role as strategic advisor, the Company has granted Mr. Fitzgibbon 300,000 options. These options entitle Mr. Fitzgibbon to purchase one common share of the Company until March 13, 2027, at a price of $0.14 per share, this being the closing price of the Company’s shares on the trading day preceding the date of the grant. The Options are subject to a vesting period and are also subject to regulatory approval. Mr. Fitzgibbon will not be receiving any cash compensation.
About 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 to Produce 3Mtpy of High Purity Apatite Concentrate at the Lac a Paul Project, Québec, Canada” released on November 13, 2013). The Company has 202,890,210 shares outstanding.
Qualified Person
Raphael Gaudreault, ing., Qualified Person by NI 43-101, has approved the technical disclosure in 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.
– 30 –
Contact Information:
Technical: Raphael Gaudreault, COO Tel. : 418-590-1318 raphael.gaudreault@arianne-inc.com
Info: Brian Ostroff, President Tel. : 418 549-7316 brian.ostroff@arianne-inc.com
Medias: Sandra Ataman Tel. : 819-859-0280 sandra@ryanap.com
IBF4
