SAGUENAY, QUEBEC – (April 3, 2017) – Arianne Phosphate (the “Company” or “Arianne”) (TSX VENTURE: 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 the signing of a memorandum of understanding (“MOU”) agreement with a joint venture between SNC-Lavalin (“SNC”) and Cegertec to act as project manager consultants and provide project management support, coordination and consulting for the Lac a Paul project.
“Arianne has put a lot of pieces in place over the last few weeks which provides for the development of many aspects of our project,” said Jean-Sébastien David, Arianne’s COO. “The involvement of SNC and Cegertec will allow for the integration of all of these pieces into a fully functioning plan that should help us achieve engineering, cost and scheduling certainty. Arianne’s recent announcements regarding many aspects of Lac a Paul’s development; structural and architectural engineering, steel fabrication, construction of the mill and electricity and automation works have all been put in place, while other aspects should be finalized in the coming weeks. The SNC-Cegertec combination will help us see that every aspect is properly coordinated.”
“We look forward to working with these two key players of the mining industry. We believe that SNC and Cegertec have the required expertise to contribute to the success of the Lac à Paul project,” noted Brian Ostroff, Arianne’s CEO. “Their partnership fits perfectly in our construction strategy for the mining facilities. This agreement allows us to establish an operational structure for the construction with a view to contributing to better expenditure control and coordination of the project development.”
Arianne announces a grant 500 000 stock options to members of the Board of Directors. Each Option entitles the holder to purchase one common share of the Company until April 2, 2027 at a price of $0.76 per share, this being the closing price of the Company’s shares on the trading day preceding the date of grant. The Options are subject to a three year vesting period under the Plan and the Policy, and are also subject to regulatory approval.
Jean-Sébastien David, P.Geo., Qualified Person by NI 43-101, has approved this release. Mr. David is also the Company’s Chief Operating Officer.
About SNC-Lavalin Inc.
Founded in 1911, SNC-Lavalin is one of the leading engineering and construction groups in the world and a major player in the ownership of infrastructure. From offices in over 50 countries, SNC-Lavalin’s employees are proud to build what matters. Our teams provide engineering, procurement construction, completions and commissioning services together with a range of sustaining capital services to clients in our four industry sectors, oil and gas, mining and metallurgy, infrastructure and power. SNC-Lavalin can also combine these services with its financing and operations and maintenance capabilities to provide complete end-to-end project solutions.
393 Racine Street East, suite 200, Chicoutimi (Québec) G7H 1T2 Tél : 418-549-7316 Fax : 418-549-5750 Courriel : email@example.com www.arianne-inc.com
Founded nearly 60 years ago, the consulting engineering firm Cegertec has been helping its clients meet their objectives by providing quality solutions in engineering and project management in five major activity sectors: energy, industry, transport, infrastructure and building construction. Renowned for the strength of its expertise.