Arianne enters Memorandum of Understanding with China Machinery Industry Construction Group (SINOCONST)

About this update from Arianne Phosphate Inc.

[{"type":"text","content":"\n\n\n\nArianne enters Memorandum of Understanding with China Machinery Industry Construction Group (SINOCONST)\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n\n\n\n\n\n\n\nCanada NewsWire\nSAGUENAY, QC, June 4, 2019\n\n\n\n-Contemplated deal directly ties participation to financing; supports parallel discussions on offtake \nDAN: TSX-V (Canada)JE9N: FSE (Germany)DRRSF: OTC (USA)\n SAGUENAY, QC, June 4, 2019 /CNW Telbec/ - Arianne Phosphate (the \"Company\" or \"Arianne\") (TSXV: DAN) (OTC: 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 it has entered into a non-binding Memorandum of Understanding (\"MoU\") with SINOCONST, a large Chinese state owned enterprise (\"SOE\").  Under the terms of the MoU, Arianne and SINOCONST have agreed to work towards a final binding agreement relating to the development of Arianne's Lac à Paul project which, would include full project financing.  On a parallel track, efforts to secure offtake are expected to be undertaken by SINOCONST in support of the financing package discussed under the MoU.  Participation in the development of Lac à Paul on the part of SINOCONST is tied to finalized project financing commitments.  \n\n \n \n\n \n\"This is a very exciting development for Arianne and the advancement of its Lac à Paul project,\" said Brian Ostroff, CEO of Arianne Phosphate.  \"Where China used to be self-sufficient in phosphate, many industry analysts now see the country heading for a deficit in phosphate rock concentrate, joining the likes of India, another country of over 1 billion people.  Arianne believes that concluding definitive financing agreements would be mutually beneficial; it would allow Arianne the financing necessary to develop its mine and allow China, through SINOCONST, an opportunity to access high-quality phosphate concentrate.  The intent is now for both parties to reach a fully binding agreement and, as per the MoU...

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