14:15:28 EDT Tue 25 Jun 2019
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Arianne Phosphate Inc
Symbol C : DAN
Shares Issued 105,803,943
Close 2019-03-18 C$ 0.39
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Arianne contracts CIFC to sell phosphate in India

2019-03-19 07:52 ET - News Release

Mr. Jean-Sebastien David reports

ARIANNE ENTERS INTO AGENCY AGREEMENT WITH INDIAN FERTILIZER TRADER

Arianne Phosphate Inc. has entered into an agency agreement with Compagnie Indo Francaise de Commerce (CIFC) to market and sell Arianne's high-purity, low-contaminant phosphate concentrate into the Indian market.

"This agreement is another meaningful step for our company," said Brian Ostroff, chief executive officer of Arianne Phosphate. "India is the world's largest importer of phosphate and, having on the ground representation for our product, will help accelerate Arianne's commercial penetration into the market. With discussions already under way with several potential Indian customers, we believe that CIFC's long-standing relationships with many of these large players will help us advance and conclude these offtake discussions."

Based in New Delhi, India, Compagnie Indo Francaise de Commerce Pvt. Ltd. is a private company founded in 1967. CIFC's business includes the trading, sale, marketing and supply of critical raw materials to India, including fertilizers, agricultural chemicals and animal feeds. As a pioneer in the marketing of fertilizers and fertilizer raw materials into India, CIFC has a long-established reputation with many of the region's largest fertilizer and agricultural entities.

"We are excited by the opportunity of bringing this high-quality phosphate to India," said Santosh Sekharan of CIFC Pvt. Ltd. "Phosphate concentrate of this nature is very limited and, the combination of our strong and historic relationships coupled with Arianne's product should allow us to generate considerable sales into the Indian market."

Qualified person

Jean-Sebastien David, PGeo, qualified person by National Instrument 43-101, has approved this release. Mr. David is also the company's chief operating officer.

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.

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