EDITOR: | May 22nd, 2013

Arianne Resources Gives Effect to its Strategy of Focusing its Efforts on the Lac à Paul Project; Sells Off Two of its Properties

| May 22, 2013 | No Comments
image_pdfimage_print

May 22, 2013 SAGUENAY, QUEBEC — (Source: Marketwired) — Arianne Resources Inc. (“Arianne” or the “Company”) (TSX VENTURE:DAN)(FRANKFURT:JE9N)(OTCBB:DRRSF) would like to announce the sale of its Brouillan Ouest and Héva properties to Exploration NQ Inc. (TSX VENTURE:NQE) and Midland Exploration Inc. (TSX VENTURE:MD) respectively. Both of these decisions give effect to Arianne’s strategy of focusing its efforts on developing its open-pit phosphate mine project at Lac à Paul and selling off its non-phosphate assets.

Brouillan Ouest: Following the issuing of 1,000,000 shares to Arianne, at a deemed price of 5 cents per share, Exploration NQ Inc. acquires 100% of the cell claims that make up the Brouillan Ouest property. This acquisition ends the option agreement that Exploration NQ Inc. held on said claims. However, Arianne retains 2% royalties on the foundry’s net revenue (NSR), half of which (1% NSR) is redeemable at any time, in consideration of the $1,000,000 cash payment.

Héva: Midland Exploration Inc. acquires, in consideration of a $30,000 cash payment and the issuing of 60,000 common shares of its share capital to Arianne, 100% of the rights on two separate blocks made up of 4 and 25 cell claims respectively. Midland Exploration Inc. agrees to assume obligations resulting from 2% royalties on the foundry’s net revenue (NSR) which is payable to the initial prospectors of said Héva property

Arianne Resources (www.arianne-inc.com) owns and is developing the Lac a Paul phosphate-titanium deposit that will produce a superior grade apatite concentrate grading 39% P2O5. The Company currently has 77 million shares issued.

Neither TSX Venture Exchange nor its Regulation Service Provider (as defined in the policies of the TSX Venture Exchange) accepts responsibility for either the adequacy or accuracy of this press release.


InvestorIntel

Editor:

InvestorIntel is a trusted source of reliable information at the forefront of emerging markets that brings investment opportunities to discerning investors.


Copyright © 2017 InvestorIntel Corp. All rights reserved. More & Disclaimer »


Leave a Reply

Your email address will not be published. Required fields are marked *