Arianne Phosphate Reports Corporate and Financial Results for Third Quarter 2017

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, reported its financial results for the three- and nine-month periods ended September 30, 2017.  All amounts are in Canadian dollars unless noted.
Brian Ostroff, CEO of Arianne Phosphate, said:

“To date, 2017 has been a very productive year for us. One of our most recent announcement regarding the completion of our Information Memorandum for interested financing parties follows on to what has been a rapid progression of positive news that has materialized throughout the year.
Discussions continue to progress with potential partners, both strategic and financial, as we look to conclude the agreements that will make Lac à Paul a reality.”

Financial Summary
Arianne is a development-stage company and, as such, did not generate revenue or positive cash flow in Q3 2017. In the third quarter ended September 30, 2017, the Company incurred net losses of $0.8M for the three-month period and $2.4M for the nine-month period. This compares to a net loss of $0.8M for the three-months and $2.4M for the nine-months period in the comparable periods of 2016.
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