Arianne Phosphate announces MOU agreement with ABB to act as a key technical supplier to the Lac à Paul project
DAN: TSX-V (Canada)
JE9N: FSE (Germany)
DRRSF: OTC (USA)
-Collaboration on Financing Discussions Part of the Agreement
SAGUENAY, QC, March 2, 2017 /CNW Telbec/ - Arianne Phosphate (the "Company" or "Arianne") (TSXV: DAN) (OTC: DRRSF) (FRANKFURT: JE9N), a development-stage phosphate mining company, advancing the Lac à Paul project in Quebec's Saguenay-Lac-Saint-Jean region, is pleased to announce the signing of a memorandum of understanding ("MOU") agreement with ABB Inc. to provide engineering, procurement and support services for integrated electrification and automated mining solutions.
"Over the last few months, Arianne has been working closely with potential suppliers for key aspects of the project to provide the necessary technical, engineering, procurement and construction services required in developing the Lac à Paul project," said Jean-Sebastien David, Arianne's COO. "By choosing to work directly with the various service providers on specific aspects of the project, it allows us to retain full control over the course and cost of development and, have our selected partners help us to continue to optimize the functionality and economics of our project. The agreement with ABB fits directly into this plan as they are a global leader in power and automation technologies for the mining industry."
Aside from scope of work and scheduling, this agreement also looks to address the financial necessities of funding this major work package. As part of this agreement, ABB has committed to assist Arianne with possible financing strategies and has already introduced the Lac à Paul project to the Swiss Export Credit Agency ("ECA") SERV. "The work involved in this contract represents a significant portion of our projected CapEx," said Brian Ostroff, CEO of Arianne Phosphate. "We have said that our partners must have both the technical capabilities and financial network to assist in our development. In ABB we have found that partner. Already world-renowned as a global leader in electrical design and products, ABB has also been very helpful in looking for workable financial solutions."
"After many months of hard work and collaboration, ABB is excited to have partnered with Arianne on the Lac à Paul project," said Mr. Remy Lanoue, vice-president Industrial Automation North America at ABB. "We believe that Arianne's choice of ABB is recognition of our strong capabilities in process control systems and production management software. As a leading supplier of electrification and automation systems to the global mining industry, we believe our involvement in this project is important and we are looking forward to using our considerable expertise to get Lac à Paul delivered on time and on budget."
ABB (ABBN: SIX Swiss Ex) is a pioneering technology leader in electrification products, robotics and motion, industrial automation and power grids, serving customers in utilities, industry and transport & infrastructure globally. Continuing more than a 125-year history of innovation, ABB today is writing the future of industrial digitalization and driving the Energy and Fourth Industrial Revolutions. ABB operates in more than 100 countries with about 132,000 employees. www.abb.com
About Arianne Phosphate
Arianne Phosphate ("Arianne Phosphate Inc.") (www.arianne-inc.com) is developing the Lac à Paul phosphate deposits located approximately 200 km north of the Saguenay/Lac St. Jean area of Quebec, Canada. These deposits will produce a high quality igneous apatite concentrate grading 39% P2O5 with little or no contaminants. The Company has 97,648,080 million shares outstanding.
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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Cautionary Statements Regarding Forward Looking Information
This news release contains "forward-looking statements" and "forward-looking information" within the meaning of applicable securities regulations in Canada and the United States (collectively, "forward-looking information"). Forward-looking information includes, but is not limited to, anticipated quality and production of the apatite concentrate at the Lac à Paul project. Often, but not always, forward-looking information can be identified by the use of words such as "plans", "expects, "is expected", "budget", "scheduled", "estimates", forecasts", "intends", "anticipates", or "believes", or the negatives thereof or variations of such words and phrases or statements that certain actions, events or results "may", "could", "would", "might", or "will" be taken, occur or be achieved. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking information, including but not limited to: volatile stock price; risks related to changes in commodity prices; sources and cost of power facilities; the estimation of initial and sustaining capital requirements; the estimation of labour and operating costs; the general global markets and economic conditions; the risk associated with exploration, development and operations of mineral deposits; the estimation of mineral reserves and resources; the risks associated with uninsurable risks arising during the course of exploration, development and production; risks associated with currency fluctuations; environmental risks; competition faced in securing experienced personnel; access to adequate infrastructure to support mining, processing, development and exploration activities; the risks associated with changes in the mining regulatory regime governing the Company; completion of the environmental assessment process; risks related to regulatory and permitting delays; risks related to potential conflicts of interest; the reliance on key personnel; financing, capitalization and liquidity risks including the risk that the financing necessary to fund continued exploration and development activities at Lac à Paul project may not be available on satisfactory terms, or at all; the risk of potential dilution through the issue of common shares; the risk of litigation. Forward-looking information is based on assumptions management believes to be reasonable at the time such statements are made, including but not limited to, continued exploration activities, no material adverse change in commodity prices, exploration and development plans proceeding in accordance with plans and such plans achieving their stated expected outcomes, receipt of required regulatory approvals, and such other assumptions and factors as set out herein. Although 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 cause results not to be as anticipated, estimated or intended. 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 those anticipated in such forward-looking information. Accordingly, readers should not place undue reliance on forward-looking information. Forward-looking information is made as of the date of this press release, and the Company does not undertake to update such forward-looking information except in accordance with applicable securities laws.
SOURCE Arianne Phosphate Inc.
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