Quebec Invests in Arianne Phosphate

Arianne Phosphate, Saguenay, Quebec, a development-stage phosphate mining company advancing the Lac à Paul project in Quebec’s Saguenay-Lac-Saint-Jean region, said on May 7 that it has closed on a C$1.5 million investment from the Government of Quebec by way of private placement into the common shares of Arianne. The government is subscribing for 3,671,970 common shares of the company at a price of $0.4085 per share.