-former Nutrien Ltd. CEO of Nitrogen &
Phosphate to act as a strategic advisor
DAN: TSX-V (Canada)
JE9N: FSE (Germany)
DRRSF: OTC (USA)
SAGUENAY, QC, Nov. 29,
2022 /CNW Telbec/ - Arianne Phosphate (the
"Company" or "Arianne") (TSXV: 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 Dr.
Raef Sully has joined the Company as
a strategic advisor. Dr. Sully comes to Arianne as a 10-year
veteran of Nutrien Ltd. (and its predecessor Potash Corp.), having
most recently served as its Executive Vice President and CEO of
their nitrogen and phosphate divisions. As head of these
divisions, Dr. Sully was responsible for the leadership of its
sizeable workforce and multi-billion-dollar revenue and EBITDA
streams. Previous to his role at Nutrien Ltd., Dr. Sully was with
Bain & Company in both Sydney,
Australia and Houston,
Texas.
"During my time in the industry, I have watched Arianne and am
impressed with what the project has become," said Dr. Sully.
"Today, aside from the excellent quality fertilizer it will
produce, I am particularly excited about its opportunity in
emerging industrial and battery applications. Arianne's ability to
produce such a high-purity concentrate will provide the Company a
significant opportunity in these specialty markets. I believe that
my experience with large-scale development, along with my industry
contacts and knowledge should help Arianne unlock its significant
potential."
Dr. Sully will be beginning his role with Arianne immediately,
interfacing with the Company's management as they pursue their
ongoing discussions with potential partners and off-takers. Arianne
owns the Lac à Paul phosphate project in Quebec and has demonstrated the ability to
produce a very high-purity/low-contaminant concentrate suitable for
use in both fertilizer and specialty applications, such as the
lithium-iron phosphate ("LFP") battery.
"We are very excited to have Raef on the team and he comes with
a wealth of experience and contacts," added Brian Ostroff, President of Arianne Phosphate.
"Knowing Raef over the years in his previous roles, I believe his
guidance will be invaluable to our ongoing discussions. As well,
coming from the perspective of a larger producing company, he will
have interesting insight into where our product will be most
needed."
In conjunction with Dr. Sully's appointment, the Company will
issue 200,000 options. These Options entitle him to purchase one
common share of the Company until November
29, 2024 at a price of $0.355
per share, this being the closing price of the Company's shares on
the trading day preceding the date of the grant. As well, the
Company has granted 400,000 options to members of the Board of
Directors. Each Option entitles the holder to purchase one common
share of the Company until November 29,
2032 at a price of $0.355 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 190,037,348 shares outstanding.
Qualified Person
Raphael Gaudreault, eng.,
Qualified Person by NI 43-101, has approved 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.
Follow Arianne on:
Facebook: https://www.facebook.com/ariannephosphate
Twitter: http://twitter.com/arianne_dan
YouTube: http://www.youtube.com/user/ArianneResources
Flickr: http://www.flickr.com/photos/arianneresources
Resource Investing
News: http://resourceinvestingnews.com/?s=Arianne
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 be 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 labor 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 approval, 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.