Mr. Brian Ostroff reports
ARIANNE PHOSPHATE NAMES DOMINIQUE BOUCHARD AS EXECUTIVE CHAIRMAN OF THE BOARD OF DIRECTORS
Arianne Phosphate Inc. has named Dominique Bouchard as executive chairman of its board of directors. Mr. Bouchard's appointment was unanimously approved by the company's board of directors. Mr. Bouchard has been a member of Arianne's board since 2013 and his new position follows his previous role as Arianne's executive vice-chairman.
Mr. Bouchard has been vice-rector of Resources between 2014 and 2017 at the Universite du Quebec in Chicoutimi. He is also a 33-year veteran of the Alcan and Rio Tinto organizations, having most recently served as president of Rio Tinto Quebec 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 program in practicing management from INSEAD University in France and obtained an electrical engineering degree from Laval University. Mr. Bouchard is also a graduate of the Institute of Corporate Directors.
"I believe I am well suited for my new role as executive chairman," said Mr. Bouchard. "As a native to the Saguenay region, I have a fundamental understanding of how important the Lac a Paul project is, and, the benefit it will bring to the community. Having spent many years in Quebec, both in a personal and professional capacity, it has allowed me to build a strong network of contacts that I will draw on to help get this project done. Further, I look forward to continuing my strong working relationship with Brian, our CEO. We have a strong understanding of each other's strengths and responsibilities and, we work well as a team."
"On behalf of the board, the management and the entire Arianne team, I want to welcome Dominique to his new position," said Brian Ostroff, chief executive officer of Arianne Phosphate. "I have had the opportunity to work with Dominique over the years and think he is very well suited to his new position; I look forward to advancing our project together. Having been on the board for several years Dominique will bring a high level of continuity and can hit the ground running. Lastly, on a personal note, I have enjoyed working closely with Dominique in the past and look forward to his more active role as executive chairman."
In conjunction with Mr. Bouchard's new position, he has been awarded 40,000 stock options. Each option entitles the holder to purchase one common share of the company until Dec. 13, 2027, at a price of 62 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.
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