DAN: TSX-V ( Canada )
JE9N: FSE ( Germany )
DRRSF: OTC BB ( USA )
SAGUENAY, QC, Sept. 15, 2014 /CNW/ - Arianne Phosphate (the "Company" or "Arianne") (TSX VENTURE: DAN)
(JE9N.F) (DRRSF),a development-stage phosphate company advancing the Lac à Paul Phosphate
Project in Quebec's Saguenay region is pleased to announce the Quebec
Government investment of $2M in the project. This investment, to be
made by Investissement Québec, is part of Arianne's previously
announced $8M financing (see our press release dated July 31, 2014 ) and
will close in conjunction with the closing of the second tranche of the
financing in the coming days.
"This is a world class project with enormous benefits to all involved,"
said Pierre Fitzgibbon , Chairman of Arianne. "By making this
investment, the Government of Quebec is helping to pave the way forward
for this important project. This concrete show of support will allow
the strengthening of the region's economy, pioneer a new long lasting
industry for Quebec and, of course, provides the province the economic
benefit of being a shareholder in this $1.9B [NPV] asset. The jobs and
benefits to the community are that much closer."
Arianne's Lac à Paul project is set to be the most significant
development in the province. Already shown to be the largest
greenfield phosphate project in the world, independent studies
anticipate that Lac à Paul will provide over $12.5B in economic benefit
to the region during the first 25 years of operation. The project will
create over 2,200 jobs during the construction phase, 1,000 direct and
indirect jobs during operation and provide $1B in employment income to
the region over this period.
"We are very pleased that the government has chosen to support this
project and believe that they will be an exceptional partner as we go
forward through permitting and ultimately development," commented
Jean-Sebastien David , the Company's COO. "Certainly, this is a big
project and it will require the support of all those involved. By
having the government there, I think it shows the commitment of the
province to doing all they can do to help see Lac à Paul be developed.
Their investment will enable our team to continue to focus their
efforts and energy on the ultimate success of our project. This
investment also adds to the string of recent favorable corporate events
over the last few months: positive drill results, favorable cost
reductions and strong management additions."
Under the terms of the offering, Units of the Company (the "Units") were
offered at a price of $1.00 per Unit. Units of the Company consist of
one common share (the "Common Share") and one half common share
purchase warrant (each whole warrant being a "Warrant"). Each full
Warrant entitles its holder to purchase one common share at a price
equal to $1.25 for a period of twenty-four (24) months following the
closing date. If at any time after four (4) months and one (1) day
following the closing date, the trading price of the Common Shares on
the TSX Venture Exchange is equal to or exceeds $1.75 for twenty (20)
consecutive trading days, as evidenced by the price at the close of
market, the Company shall be entitled to notify the holders of Warrants
of its intention to force the exercise of the Warrants. Upon receipt of
such notice, the holders of the Warrants shall have 30 days to exercise
the Warrants, failing which the Warrants will automatically expire.
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. The Company has 92,868,755 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.
Forward Looking Statements and 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"). The forward-looking information
contained in this news release is made as of the date of this news
release. Except as required under applicable securities legislation,
the Company does not intend, and does not assume any obligation, to
update this forward-looking information. 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. Any
forward-looking statement speaks only as of the date on which it is
made and except as may be required by applicable securities laws, the
Company disclaims any intent or obligation to update any
forward-looking statement.
SOURCE Arianne Phosphate Inc.