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Arianne Phosphate Inc
Symbol DAN
Shares Issued 123,198,348
Close 2021-04-14 C$ 0.475
Recent Sedar Documents

Arianne Phosphate signs deal for Saguenay facility

2021-04-15 09:05 ET - News Release

Mr. Brian Ostroff reports

ARIANNE PHOSPHATE SIGNS AN AGREEMENT IN PRINCIPLE WITH THE PORT OF SAGUENAY FOR THE CONSTRUCTION AND USE OF A NORTH SHORE FACILITY

Arianne Phosphate Inc. has reached an agreement in principle with the Port of Saguenay regarding the future site of a maritime loading facility on the north shore of the Saguenay River. This agreement will allow for both the company and the port to finalize details surrounding the costs, construction and operations of the facility from which Arianne will be shipping its phosphate concentrate globally. The final agreement will cover the use of the facility for an initial period of 30 years, thereafter renewable twice for periods of 10 years.

"Like any globally traded commodity, transportation and logistics is a key element of success," said Brian Ostroff, chief executive officer of Arianne. "Once loaded on a ship, our phosphate can be sent anywhere and, given the high purity of our concentrate, we will enjoy tremendous economies of scale. This agreement comes at a time when global demand for phosphate continues to rise driven by a greatly improved agricultural macro and growth in specialty applications such as lithium iron phosphate (LFP) batteries for cars."

Jean-Sebastien David, chief operating officer of the company, added: "Our agreement comes after close co-operation with the port and local authorities as Arianne continued to optimize its transportation plan from mine to port. With a 50-year agreement, we will be in a strong position to supply our global customers from our long life-of-mine Lac a Paul project."

Currently, the Port of Saguenay operates its facilities on the south shore of the Saguenay River and is a main commercial hub in the region, shipping and receiving a variety of goods year-round. As part of the agreement, Arianne will sell to the port a parcel of land on the north shore, thus allowing for construction of a loading facility that allows for easy access and serves as gateway to international commercial centers.

Qualified person

Mr. 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. These deposits will produce a high-quality igneous apatite concentrate grading 39 per cent P2O5 with little or no contaminants (feasibility study released in 2013). The company has 173,354,669 shares outstanding.

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