Business
The Government of Quebec makes a $1.5 million investment in Arianne Phosphate
The Government of Quebec makes a $1.5 million investment in Arianne Phosphate Cana...
About this update from Arianne Phosphate Inc.
[{"type":"text","content":"\n\n\n\nThe Government of Quebec makes a $1.5 million investment in Arianne Phosphate\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, May 7, 2019\n\n\n\nDAN: TSX-V (Canada)JE9N: FSE (Germany)DRRSF: OTC (USA)\n SAGUENAY, QC, May 7, 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 closed on a $1.5 million investment from the Government of Quebec by way of private placement into the common shares of Arianne.\n\n \n \n\n \n\"The last six months have been very significant for Arianne as it has advanced its project towards development,\" said Brian Ostroff, CEO of Arianne Phosphate. \"With executed offtake agreements, permits in place and, a strong global awareness of our Lac à Paul asset, I believe that we are making very solid progress towards the development of this mine. The development of Lac à Paul will strengthen the region's economy, providing several thousand jobs and pioneering a new long-lasting industry for Quebec. I appreciate the support of the Government in helping us to make this happen and look forward to their continued support as the project moves through the project financing stage.\"\n\"The phosphate industry is one of opportunity and strategic importance for the Province of Quebec,\" said Dominique Bouchard, executive chairman of the board of director. \"Arianne Phosphate, the owner of the Lac à Paul Project, is well placed to pioneer this industry and generate tremendous socio-economic benefits for the region. Further, given the clean and high-quality nature of the phosphate concentrate that will be produced, it is in keeping with the goal of being a good steward of the environment while generating opportunity for all stakeholders.\"\nUnder the terms of the offering, the Government of Quebec is subscribing for 3,671,970 common shares of the Company at...