Arianne Resources Inc. Acquires Pourvoirie du Lac-Paul
04.11.2011 | Marketwire
SAGUENAY, QUEBEC -- (Marketwire - Nov. 4, 2011) - Arianne Resources Inc. (the "Company" or "Arianne")(TSX VENTURE: DAN) (FRANKFURT: JE9N) (OTCBB: DRSSF) is pleased to announce the acquisition of the Pourvoirie du Lac-Paul (Outfitter). This outfitter holds exclusive hunting and fishing rights on its territory. This acquisition was made ΓÇïΓÇïnecessary by the development of the phosphorus-titanium mining project T Lac Paul.Indeed, a significant portion of mineral resources and the emplacement for the construction of infrastructure and tailings were on the territory of Lac-Paul Outfitter. Although the work of development of deposits are still held in harmony with the hunting and fishing Outfitters, the Company considered important to acquire all of the latter in order to avoid any conflict of potential use.
The acquisition was made through a private subsidiary owned 100% by Arianne. The Company also announces that most of the outfitting activities will continue as normal. The Company will issue to the seller of the outfitter 386 598 common shares at the price of $1.94 as partial payment for the outfitter plus an amount of $750,000 cash. The transaction is subject to acceptance by regulatory authorities.
Canada Phosphate (www.canadaphosphate.com ) is the wholly owned subsidiary of Arianne Resources developing the Lac à Paul phosphate-titanium deposits. These deposits should produce a high quality igneous apatite concentrate grading 39% P2O5 with little or no contaminant. Arianne (www.arianne-inc.com ) is a Canadian exploration company whose primary mission is to explore and develop gold, silver and other metal deposits in Canada and Mexico. The Company has 66 million shares outstanding.
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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.
Contact Information
Source:
Bernard Lapointe, CEO
(418) 549-7316
bernard@arianne-inc.com
Information:
Jim Cowley, President
(801) 599-3789
jim@arianne-inc.com
Jed Richardson - Investor relations
(416) 840 3325
jed@javelinpartners.com