Mr. Dominique Bouchard reports
ARIANNE PHOSPHATE APPOINTS MR. CLAUDE LAFLEUR TO ITS BOARD OF DIRECTORS
Arianne Phosphate Inc. has appointed Claude Lafleur to the company's board of directors.
Mr. Lafleur brings with him extensive experience in the agribusiness field, having served in senior management positions with several companies. For 16 years Mr. Lafleur was with La Coop federee, including eight years as its chief executive officer. With its affiliated co-ops, Coop federee is Quebec's largest agri-food organization with annual sales of over $9-billion. As well, Mr. Lafleur was chief executive officer of IFFCO Canada, the Canadian subsidiary of IFFCO (Indian Farmers Fertilizer Cooperative Ltd.), India's largest fertilizer manufacturer with annual sales of $3-billion (U.S.). Currently, Mr. Lafleur is a member of Anges Quebec (Quebec Angels) Capital, a fund sponsored by Investissement Quebec, Caisse de depot et placement du Quebec and Fonds de solidarite FTQ, and continues to sit on several boards including Desjardins Groupe Assurance, a $4.5-billion enterprise.
"Claude's resume speaks for itself," said Dominique Bouchard, executive chairman of the board of Arianne Phosphate. "Having served with large domestic and international companies, Claude will be able to share his knowledge with the board and management of Arianne. As well, over the years, Claude has assembled a strong network of industry and government contacts that he will be able to draw on as he assists Arianne in formalizing the final pieces necessary to put the company's Lac a Paul project into production. On behalf of the Arianne team, we want to welcome Claude and look forward to working closely with him."
"I have been familiar with the Arianne project for several years and watched its development," said Mr. Lafleur. "I believe this project is something special and is a necessity for the world as we look to feed our growing population. I am quite familiar with the challenges and rewards in seeing large projects come to fruition and I am excited to be part of this project. Ultimately, the development of Lac a Paul will be of great value to Arianne's shareholders, stakeholders and the province of Quebec."
In conjunction with Mr. Lafleur's appointment to the board, he has been granted 200,000 stock options. Each option entitles the holder to purchase one common share of the company until Aug. 29, 2028, at a price of 41 cents 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.
About Arianne Phosphate Inc.
Arianne Phosphate is developing the Lac a Paul phosphate deposits located approximately 200 kilometres north of the Saguenay/Lac St. Jean area of Quebec, Canada. These deposits will produce a high-quality igneous apatite concentrate grading 39 per cent phosphorus pentoxide with little or no contaminants. The company has 105,803,943 shares outstanding.
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