THEN: TSX-V (Canada†
JE9N: FSE (Germany†
DRRSF: OTC (United States†
SAGUENAY, QC† May 25, 2022 /CNW Telbec/ – Arianne Phosphate (the “Company” or “Arianne”) (Growth Fair) (TSX: DAN) (FRANKFURT: JE9N) (OTC: DRRSF), a company in the development phase of the Lac à Paul phosphate mining project in the Saguenay–Lac-Saint-Jean region of Quebec, announces its operating and financial results for the three-month period ending March 31, 2022. All amounts are in Canadian dollars unless otherwise noted.
Operational and financial highlights
- In February 2022, the company announced that it has launched a research program in collaboration with the Environment and Biotechnology research group at Cégep de Rivière-de-Loup, aimed at developing a new generation of organic waste fertilizers and Arianne’s high-purity, low-phosphate concentrate.
- On April 1, 2022, the company issued 4,166,096 shares of common stock at a price of $0.512 per share, in lieu of cash, as an annual interest payment to Mercury Financing Corp. as of March 31, 2022. The Company has elected to pay in common stock as these issued securities are subject to a holding period ending August 2, 2022.
- In April 2022, Arianne entered into a partnership with Northern Nutrients of the Saskatchewanuntil Canada to promote the use of its high purity phosphate concentrate in derived fertilizers. The benefits of this work would be the ability to integrate the Company’s phosphate concentrate directly into fertilizers without having to transform it through acidification first.
- In May 2022, the company announced it had successfully tested an improved process that would allow it to optimize its high-purity phosphate concentrate for specific markets. In collaboration with Corem, Arianne has developed both a low-phosphate concentrate contents in small elements (MER) and a concentrate with contents higher in MER using high intensity magnetic separation. The results showed that Arianne’s phosphate concentrate can be further optimized to reach target markets with an addition to the process. The low MER concentrate is attractive to those seeking specialty phosphate applications, such as the high purity acid used in lithium iron phosphate (“LFP”) batteries, while the higher MER concentrate would be attractive for direct fertilizers. administration, as it is higher in beneficial micronutrients such as iron.
Arianne is a company in the development phase and as such did not generate positive sales or cash flow in the first quarter of 2022. During the first quarter ended March 31, 2022, the company posted a net loss of $1.3 million (M) for the three – month period. Over the same period in 2020, the company posted a loss of $4.4 million. The lower loss in 2022 is explained by higher debt costs in 2021 due to the conversion of debt to equity that created a loss on conversion and the extension of the credit line in the first quarter of 2021. These are non-cash costs.
Arianne’s MD&A and interim condensed consolidated financial statements for the nine-month period ended March 31, 2022 are available on the company’s website and on SEDAR. (www.sedar.com).
About Arianne Phosphate
Arianne Phosphate (“Arianne Phosphate inc.”) (www.arianne-inc.com) develops the phosphate deposits of the Lac à Paul project, about 200 km north of the Saguenay-Lac-Saint-Jean region of Quebec (Canada† These deposits will produce a high quality coagulation apatite concentrate with a rating of 39% P2O5 (feasibility study published in 2013) and with little or no contaminants. The Company has 189,969,848 outstanding shares.
Raphaël Gaudreault, P.Eng., NI 43-101 Qualified Person, has approved this release. Mr. Gaudreault is also the Chief Operating Officer.
Neither the TSX Venture Exchange nor its Regulatory Services Provider (as that term is defined in the policies of the TSX Venture Exchange) assumes any responsibility for the suitability or accuracy of this press release.
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Caution regarding forward-looking information
This press release contains “forward-looking statements” and “forward-looking information” within the meaning of the securities regulations applicable to the Canada and the United States (collectively, the “Forward-Looking Information”). Forward-looking information includes in particular expectations regarding the production and quality of apatite concentrate from the Lac à Paul project. It is often, but not always, possible to determine forward-looking information using words such as “plan,” “expect,” “should,” “budget,” “expect,” “estimate,” “forecast.” , “intends”, “discounts” or “believes”, or their negative, or variations of these words and expressions or statements that interventions, events and results “may”, “may”, “should” or “will” taken, will take place or may be performed. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that could cause the company’s actual results, level of activity, performance or performance to differ materially from the information expressed or implied by such information. These risks include, but are not limited to: stock price volatility; fluctuations in raw material prices; the origin and cost of energy sources; estimates of initial and renewed cost of capital; estimates of labor and operating costs; world markets and general economic conditions; risks associated with the exploration, development and extraction of mineral deposits; estimates of mineral resources and reserves; risks associated with uninsurable risks arising during exploration, development and production; risks associated with changes in exchange rates; environmental risks; the competition the company faces when hiring experienced personnel; access to adequate infrastructure to support mining, processing, development and exploration activities; risks associated with changes in mining regulations applicable to the business; the completion of the environmental impact assessment process; risks related to regulatory and licensing delays; risks associated with potential conflicts of interest; dependence on key personnel; funding, capitalization and liquidity risks, including the risks that the funding necessary to continue the exploration and development activities of the Lac à Paul project will not be available or will be available on acceptable terms; the risk of possible dilution from the issuance of ordinary shares; the risk of a lawsuit. Forward-looking information is based on assumptions considered reasonable by management at the time such statements are made, including, but not limited to, continued exploration activities, no material adverse changes in commodity prices, completion of exploration plans and development plans in accordance with expectations, receipt of required regulatory approvals and the other assumptions and factors set forth herein. While the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in the forward-looking information, there may be other factors that could cause results not to be as expected, estimated or anticipated. There can be no assurance that such forward-looking information will prove to be accurate, as actual results and future events could differ materially from the expectations contained in such forward-looking information. Accordingly, readers should not place undue reliance on forward-looking information. Forward-looking information speaks only as of the date of this press release and the company undertakes not to update such forward-looking information, except as required by applicable securities laws.†
SOURCE Arianne Phosphate Inc.
For more information: Source: Raphael Gaudreault, COO, Tel. : 418-590-1318, [email protected]† Info: Brian Ostroff, Chairman, Tel. : 514-908-4202, [email protected]