SAGUENAY, QUEBEC -- (Marketwire) -- 01/14/13 -- Arianne Resources Inc. (the "Company" or "Arianne") (TSX VENTURE: DAN)(FRANKFURT: JE9N)(OTCBB: DRRSF) announced today that it will seek shareholders' approval to change its name to "Arianne Phosphate Inc." at its next annual general meeting of shareholders in May, 2013 to recognize the focus of its activities on developing the world class Lac a Paul phosphate deposit. Such name change will also be subject to regulatory approval.
The Company also announced its intention to divest all non-phosphate exploration properties in order to focus exclusively on becoming a leading Canadian Phosphate producer. The decision to sell these non-core assets is a logical step in Arianne's evolution and reflects the transition of the Company from exploration to mine development.
"This divestiture will enable the Company to focus all its financial and management resources on developing its major phosphate deposit at Lac a Paul, in particular completing the Bankable Feasibility Study commenced last summer." stated the Company's Chairman of the Board, Mr. Pierre Lortie.
Post divestiture, the assets remaining in Arianne will be exclusively focused on phosphate. The primary assets are the Lac a Paul deposits as well as some other phosphate exploration properties. The projects to be sold include: Heva, La Dauversiere, Black Dog, Chico, Dulain, and Terres Rares. The Company expects to complete the divestment process during 2013.
The Board of Directors of the Company announces the grant of 50,000 stock options to one officer pursuant to its stock option plan and subject to regulatory approval. The stock options are exercisable for a term of 10 years at an exercise price of $1.12 per share.
Arianne Resources (www.arianne-inc.com) owns and is developing the Lac a Paul phosphate-titanium deposit that produces a superior grade apatite concentrate grading close to 39% P2O5. The Company currently has 75 M shares issued.
Follow Arianne on:
Resources Investing News:http://resourceinvestingnews.com/?s=Arianne
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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OCTOBER 31, 2014
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