SAGUENAY, QUEBEC -- (Marketwired) -- 05/06/13 -- The management of Arianne Resources Inc. ("Arianne" or the "Company") (TSX VENTURE: DAN)(FRANKFURT: JE9N)(OTCBB: DRRSF) is pleased to announce the filing on SEDAR (www.sedar.com) of its Annual Meeting materials. The purpose of the Annual Meeting, scheduled for May 29, 2013 in Montreal, is to elect members of the Arianne Board, approve Pricewaterhouse Coopers LLP as auditors of the Company for the next financial year, and to change the name of the Corporation to Arianne Phosphate Inc.
For election of Directors, six of the current Board members are standing for re-election. Mr. Pierre Lortie, current Chairman and Mr. Bernard Lapointe, current Chief Executive Officer of Arianne, have decided to not stand for re-election. Mr. Lapointe, the founder of Arianne, a PhD geologist and long-time member of the Saguenay-Lac-Saint-Jean community, has decided to retire from his full-time role as Chief Executive Officer of the Company. Mr. Lapointe remains a significant shareholder of the Company and has agreed to remain a strategic consultant to Arianne to assist in completion of the Feasibility Study and permitting activities. Mr. Lapointe's retirement from office will be effective as of May 31, 2013.
"Bernard's contributions to Arianne's development have been significant, beginning with his realization that the mineralogy of the Lac a Paul deposit will yield a superior grade phosphate concentrate containing very low impurities. His vision to stake and develop a large land position containing massive high-grade P2O5 phosphate resources has led to significant growth in shareholder value", commented Jim Cowley, President of Arianne. "The Board, our employees and our shareholders thank Bernard for his vision, his encouragement, and countless hours of hard work in the development of Lac a Paul project. We wish Bernard the very best in his retirement."
On the departure of Mr. Lortie, David Debasio, Chairman of Arianne's Human Resources and Compensation Committee declared: "The Board thanks Mr. Lortie for his guidance and vision during the past year. Pierre focused the Board's efforts on maximizing shareholder value by driving the development of Lac a Paul forward at full speed. We wish Pierre the best of success in his other endeavours." He also commented that the Board has initiated a search for additional experience as it progresses to the next stage of development following the Feasibility Study.
The Company will also be asking its shareholders to approve changing the name of the Corporation to Arianne Phosphate Inc., which reflects the Company's sole focus on the development of the Lac a Paul phosphate mine.
Arianne Phosphate Inc. (www.arianne-inc.com) owns and is developing the Lac a Paul phosphate-titanium deposit that will produce a superior grade apatite concentrate grading close to 40% P2O5. The Company currently has 76 M shares issued.
Follow Arianne on:
Resource 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.
Most Popular Stories
- Obama Administration Releases Proposal to Regulate For-Profit Colleges
- Koch Brothers Step up Anti-Obamacare Campaign
- Elizabeth Vargas' Husband Marc Cohn Addresses Rumors
- Keurig Adds Peet's coffee, Alters Starbucks deal
- Quiznos Files for Chapter 11
- U.S. to Relinquish Gov't Control Over Internet
- SoCalGas Reaches Record Spend on Diversity Suppliers
- Vybz Kartel Convicted of Murder
- FDIC Sues Big Banks Over Rate Manipulation
- U.S. Consumer Sentiment Falls in Early March