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- Exchange move undertaken to allow for faster execution of company strategy and business arrangements.
- New arrangement will translate to significant ongoing and annual cost savings for Ares.
Vancouver, B.C. - TheNewswire - July 5th, 2021 - Ares Strategic Mining Inc. (“Ares” or the “Company”) (TSXV:ARS) (OTC:ARSMF) (FRA:N8I1), is pleased to announce that it has received conditional approval to list its voting shares on the Canadian Securities Exchange (the "CSE") under the trading symbol "ARS". Final approval of the listing is subject to the Company meeting certain customary conditions of the CSE. Upon final approval, the Company intends to issue a news release confirming the date upon which its common shares will commence trading on the CSE.
The Company will continue to trade on the OTCQX in the United States, and the Frankfurt Stock Exchange (FRA) in Germany, and all trading for all Canadian shareholders will also continue unchanged. The CSE has an all-inclusive fee structure as opposed to the TSXV’s percentage charges for each transaction, meaning significant savings for highly active companies. Additionally, the CSE does not charge companies to close Private Placements, allowing for greater investment in the project. Ares has significant mining and construction plans and would benefit both expediently and financially from the structure offered by the CSE. The Company intends to delist from the TSXV following its Annual General Meeting on July 7th, after which it will immediately list on the CSE.
James Walker, President and CEO of the Company said, “We have many significant upcoming undertakings planned for Ares, and the CSE structure will enable us to achieve our ambitions more quickly and inexpensively. Ares is anticipating a busy year and wants to ensure its trading platform will facilitate these ambitions as efficiently as possible. We are excited about the upcoming work in the Company and are confident the CSE will form part of the Company’s success.”
In 2018 the U.S. government classified fluorspar as a Critical Mineral, “deemed critical to U.S. national security and the economy”. Fluorspar remains the only non-metallic Critical Mineral which is 100% imported in the entire country. Fluorspar’s classification as a Critical Mineral in the United States translates to a faster permitting period, enabling mining operations to initiate more quickly than operations for conventional minerals.
Lost Sheep Fluorspar Project – Delta, Utah
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- 100% owned – 2,100 acres – 118 Claims
- Located in the Spor Mountain area, Juab County, Utah, approximately 214 km south-west of Salt Lake City.
- Fully Permitted – including mining permits.
- NI 43-101 Technical Report identified extensive high-grade fluorspar with low levels of impurities.
- Mining plan approved by BLM1
First approved by Rex Rowley – Area Manager, Bureau of Land Management – 24th August 1992.
Renewed by Paul B. Baker – Minerals Program Manager, Bureau of Land Management – 12th December 2016.
ON BEHALF OF THE BOARD OF DIRECTORS OF
ARES STRATEGIC MINING INC.
James Walker
Chief Executive Officer and President
For further information, please contact James Walker by email at jwalker@aresmining.com
Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.
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