Ares Strategic Mining Inc. (CSE: ARS) (OTCQX: ARSMF) (FRA: N8I1) announced that members of management and insiders have committed approximately $990,112.65 to acquire common shares of the company at a deemed price of $0.28 per share, representing about 3.53 million shares. The investment comes as the company transitions from a development-stage entity into an emerging producer, with active mining at the Lost Sheep Mine, growing ore stockpiles, and ongoing construction of processing facilities.
The insider investment underscores management's belief in the company's long-term value and future growth prospects. Over the past year, Ares has achieved several milestones, including the commencement of mining, progress on both the Lumps Plant and Acidspar Flotation Plant, and a major U.S. government contract award from the Department of Defense for fluorspar supply. The company also benefits from strategic critical mineral positioning within the United States and a growing portfolio of assets and infrastructure.
James Walker, President and CEO of Ares Strategic Mining, commented: "Management believes the Company has reached a point where its operational progress, strategic assets, government relationships, and production trajectory are not fully reflected in the current market valuation. This investment demonstrates our confidence in the future we are building and our commitment to creating long-term value alongside shareholders."
The company expects multiple catalysts in the coming months, including continued mine production and stockpiling, advancement toward processing operations, development of domestic acidspar production capacity, execution of government contract opportunities, expansion of commercial relationships, and strengthening of its balance sheet and market position. Walker concluded: "The story of Ares today is one of execution. We have built the mine, we are mining, we are building the processing facilities, and we are securing customers. Management's decision to invest nearly one million dollars alongside shareholders reflects our belief that the most exciting chapters of Ares are still ahead of us."
In addition, Ares announced the renewal of its engagement with Pivotal CM Limited for investor communications, digital strategy, marketing initiatives, and shareholder engagement. Under the renewed arrangement, approximately US$356,250 of services will be satisfied through the issuance of common shares at the current market price, representing about 1.76 million shares, subject to regulatory approvals. This engagement is intended to support the company's growing profile as it advances toward production and expands its visibility within North American and international capital markets.
The company also agreed to settle an aggregate of $69,046.47 of debt incurred for financial services provided by Prospero and Craven Capital by issuing 246,595 common shares at a deemed price of $0.28 per share.
Regarding board evolution, the company announced that Lorenzo Esteva elected to step down from the Board of Directors in response to public response. The board thanked Mr. Esteva for his contributions and support during a period of significant growth. Ares noted that certain public commentary regarding Mr. Esteva's prior regulatory history contained misrepresentation and erroneous characterizations. Mr. Esteva's lawyer clarified that he voluntarily resigned his FINRA registrations and disputed most allegations that have circulated publicly. The company expressed regret over the inaccurate and false publications that caused his departure.
For further information, investors can view the original release on NewMediaWire.
