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Arianne Phosphate (TSXV:DAN,FWB:JE9N,OTCBB:DRRSF) completed the sale of its non-core assets in James Bay, Québec. The Opinaca and Black Dog properties were sold to Virginia Mines Inc. (TSX:VGQ) for 15,000 of Virginia Mines common shares issued to Arianne.
As quoted in the press release:
The transaction is valued at CAD$180,000, and includes no hold period or sales restriction on the common shares.
Arianne Phosphate CEO, Brian Kenny, said:
Our sale of the Opinaca and Black Dog properties is consistent with our strategy of focusing all of our efforts on accelerating the development of Lac à Paul. Our primary focus through 2014 is to secure permitting, arrange financing for the project and sign agreements with First Nations communities.
Click here to read the Arianne Phosphate (TSXV:DAN,FWB:JE9N,OTCBB:DRRSF) press release
Click here to see the Arianne Phosphate (TSXV:DAN,FWB:JE9N,OTCBB:DRRSF) profile.