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SAGUENAY, QUEBEC – Arianne Phosphate (the “Company” or “Arianne”) (TSX VENTURE: DAN; OTCQX: 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 shares been qualified to trade on the OTCQX® Market. Arianne Phosphate’s shares will begin trading on the OTCQX on September 22, 2022, maintaining its current US trading symbol “DRRSF.”
Highlighted by ongoing geopolitical unrest, phosphate has become an increasingly important commodity due to its requirement in fertilizers, and ultimately the entire food chain. Arianne Phosphate’s Lac à Paul deposit, situated in Quebec, Canada will provide an important source of phosphate production from a safe jurisdiction. Further, due to the geological nature of the Company’s deposit, Arianne can produce a very high purity, low contaminant phosphate concentrate that can also be used in the production of lithium-iron-phosphate (“LFP”) batteries (see Press Release dated June 21, 2022), currently projected to be a predominant battery technology for use in both automotive and energy storage applications.
“The importance of our Lac à Paul phosphate deposit has grown significantly as recent unrest has highlighted security of supply concerns in a number of commodities,” said Brian Ostroff, President of Arianne Phosphate. “The fact that our phosphate can be used to aid in food production as well as allowing for access to a key battery material from a safe, Western jurisdiction has increased interest in Arianne on the part of many investors. Furthering this, we have seen recent American legislation providing for substantial financial benefits to companies sourcing battery materials from American and Canadian origin. The graduation to the OTCQX platform will provide easier access to investment in our Company on the part of US-based investors looking to be involved in these growing trends.”
Upgrading to the OTCQX Market is an important step for companies seeking to provide transparent trading for their U.S. investors. For companies listed on a qualified international exchange, streamlined market standards enable them to utilize their home market reporting to make their information available in the U.S. To qualify for OTCQX, companies must meet high financial standards, follow best practice corporate governance and demonstrate compliance with applicable securities laws.
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.