Arianne Phosphate Inc (OTC: DRRSF) disclosed that Dr. Raef Sully has joined the Company as a strategic advisor.
What Happened? Arianne owns the Lac à Paul phosphate project in Quebec and demonstrated the ability to produce a high-purity and low-contaminant concentrate suitable for fertilizer and specialty applications, like the lithium-iron phosphate ("LFP") battery.
Dr. Sully comes to Arianne as a 10-year veteran of Nutrien Ltd (and its predecessor Potash Corp), having most recently served as its Executive Vice President and CEO of their nitrogen and phosphate divisions.
Previous to his role at Nutrien Ltd, Dr. Sully was with Bain & Company in Sydney, Australia, and Houston, Texas.
Why Does It Matter? Dr. Sully said, "Today, aside from the excellent quality fertilizer it will produce, I am particularly excited about its opportunity in emerging industrial and battery applications. Arianne's ability to produce such a high-purity concentrate will provide the Company a significant opportunity in these specialty markets."
Dr. Sully will begin his role with Arianne immediately, interfacing with the Company's management as they pursue their ongoing discussions with potential partners and off-takers.
In conjunction with Dr. Sully's appointment, the Company will issue 200,000 options.
Price Action: DRRSF shares traded at $0.26 in the premarket on the last check Tuesday.