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Ares Strategic Mining Announces it has been allocated a US$10,000,000 Tax-Exempt Bond from the State of Utah
(TheNewswire) Government allocates Ares US$10,000,000 to Ares’s bo...
About this update from Ares Strategic Mining Inc
[{"type":"text","content":"Ares Strategic Mining Announces it has been allocated a US$10,000,000 Tax-Exempt Bond from the State of Utah\n \n \n (TheNewswire)\n \n \n \n \n \n \n \n \n \n \n Government allocates Ares US$10,000,000 to Ares’s\nbond issuer.\n \n \n \n \n \n \n Ares commences due diligence work with several private\nplacement agents to receive a tax-free bond distributed for\nmanufacturing operations in Utah.\n \n \n \n \n \n \n The bond will cover all expected manufacturing costs of\nAres’ fluorspar acidspar processing facility and its equipment.\n \n \n \n \n \n \n Ares receives county and state board approval and\nsupport for manufacturing project.\n \n \n \n \n \n \n Non-dilutive financing to progress the Company without\nincreasing outstanding shares.\n \n \n \n \n \n \n Vancouver, B.C. -\n \n \n TheNewswire -\n \n \n April 19th, 2022 —\n \n \n Ares Strategic Mining Inc.\n \n \n (the “Company”) (CSE: ARS) (OTC:ARSMF) (FRA: N8I1), is\nvery pleased to announce that after the Company’s submission to the\nPrivate Activity Bond (PAB) Program (the “Program”), established\nby Utah State to support new manufacturing enterprises, the Company\nwas granted the maximum manufacturing bond allocation available\nthrough the program.\n \n \n \n \n The Private Activity Bond (PAB) Program is Utah’s\ntax-exempt bonding authority creating a lower cost, long-term source\nof capital under the Federal Tax Act of 1986. The Company was referred\nto the Program by the State of Utah through its business development\nchannels, to help support and realize the Company’s project.\n \n \n \n \n The Company intends to use the proceeds for equipment\npurchases and construction costs at its manufacturing facilities, and\nat its second plant – a flotation facility designed to produce\nacidspar.  Acidspar is principally used in the chemical, aluminum,\nand refrigeration industries. Acidspar is the highest-grade fluorspar\nproduct produced for industry and is one of the most ubiquitously used\nindustrial minerals in manufacturing.\n \n \n \n \n \n \n \n \n Click Image To View Full Size\n \n \n \n \n Ares Acidspar Production\nFacility\n \n \n \n \n In 2018 the U.S. government classified fluorspar as a\nCritical Mineral, “deemed critical to U.S. national security and the\neconomy”. F...