SAGUENAY, QUÉBEC–(June 18, 2013) - Arianne Phosphate Inc. (the “Company” or “Arianne”) (TSX VENTURE:DAN)(FRANKFURT:JE9N)(OTCBB:DRRSF) announces the appointment of Dominique Bouchard, of Chicoutimi, Québec to its Board of Directors.
Dominique Bouchard is a 33-year veteran of the Alcan and Rio Tinto organizations, having most recently served as President of Rio Tinto Iron & Titanium until his retirement in May, 2013. Prior to that, Mr. Bouchard held the position of Vice President Primary Metal within Rio Tinto Alcan from March 2005 to February 2010. He was responsible for the operations and implementation of the strategy development for Primary Metal Saguenay-Lac-Saint-Jean.
Mr Bouchard holds a Master’s degree in Management from McGill University, graduated from the International Master’s Programme in Practicing Management (IMPM) from INSEAD University in France and obtained an Electrical Engineering degree from Laval University.
At the same time, Luc Boivin, who has served on the Board for 8 years, has announced that he will be stepping down from the Arianne Board.
Commenting, Guthrie Stewart, the acting Interim Chairman of the Board said: “We have greatly appreciated the contributions of Luc Boivin to the Board. Luc is solidly committed to economic development in the Saguenay-Lac-Saint-Jean region and has brought wise counsel to Arianne’s Board during its exploration stages. At the same time we are excited to welcome Dominique Bouchard to the Board. Dominique is a highly respected business leader and also has a history of strong and collaborative engagement in the region. Dominique brings both deep business experience and ensures our strong representation from the Saguenay-Lac-Saint-Jean region on the Board”.
The Board has granted 200,000 stock options (collectively, the “Options”) to Mr. Bouchard in accordance with Arianne’s stock option plan (the “Plan”) and stock option grant policy (the “Policy”).
Each Option entitles the holder to purchase one common share of the Company until June 17, 2023 at a price of $1.19 per share, 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.
Arianne Phosphate (www.arianne-inc.com) is developing the Lac à Paul phosphate deposits located approximately 200 km north of the Saguenay-Lac-Saint-Jean region of Québec, Canada. These deposits will produce a high quality igneous apatite concentrate grading 39% P2O5 with little or no contaminants. The Company has 77 million shares issued.
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Jim Cowley, President
Derek Lindsay, CFO & Corporate Secretary
Karl-Philip Marchand Giguere