Arianne Resources Inc. (TSXV:DAN,FWB:JE9N,OTCBB:DRRSF) is seeking shareholders’ approval to change its name to “Arianne Phosphate Inc.” to highlight its focus of developing the world class Lac à Paul phosphate deposit.
As quoted in the press release:
The Company also announced its intention to divest all non-phosphate exploration properties in order to focus exclusively on becoming a leading Canadian Phosphate producer. The decision to sell these non-core assets is a logical step in Arianne’s evolution and reflects the transition of the Company from exploration to mine development.
Arianne Resources Inc. Chairman of the Board, Pierre Lortie said:
This divestiture will enable the Company to focus all its financial and management resources on developing its major phosphate deposit at Lac a Paul, in particular completing the Bankable Feasibility Study commenced last summer.