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Ares Strategic Mining Announces Proposed Private Placement Offering under the Listed Issuer Financing Exemption
(TheNewswire) Vancouver, B.C. August 22 nd , 2024 — TheNewswire – Ares ...
About this update from Ares Strategic Mining Inc
[{"type":"text","content":"Ares Strategic Mining Announces Proposed Private Placement Offering under the Listed Issuer Financing Exemption\n\n\n (TheNewswire)\n \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n Vancouver, B.C. August 22\n \n nd\n \n , 2024 —\n \n TheNewswire –\n \n Ares\nStrategic Mining Inc. (CNSX: ARS) (“\n \n Ares\n \n ” or the “\n \n Company\n \n ”) is pleased to announce a non-brokered private\nplacement offering consisting of a minimum of 2,777,778 units of the\nCompany (each, a “\n \n Unit\n \n ”)\nand a maximum of 11,666,667 Units at a price of $0.18 per Unit for\ngross proceeds of a minimum of $500,000 and a maximum of $2,100,000\n(the “\n \n LIFE Offering\n \n ”).\n Each Unit shall consist of one common share in the capital of the\nCompany (each, a “\n \n Common\nShare\n \n ”) and one common share purchase warrant (each, a\n“\n \n Warrant\n \n ”). Each Warrant\nwill entitle the holder to acquire one additional Common Share in the\ncapital of the Company (each, a “\n \n Warrant Share\n \n ”) at a price of $0.26 per Common Share for a\nperiod of two (2) years following the closing date of the LIFE\nOffering, provided that if the ten-day volume-weighted average trading\nprice of the Common Shares as quoted on the Canadian Securities\nExchange (the “\n \n CSE\n \n ”) (or\nsuch other securities exchange on which the Common Shares may be\ntraded at such time) is equal to or greater than $0.40 at the close of\nany trading day, then the Company may, at its option, accelerate the\nexpiry date of the Warrants by giving notice to the holders thereof by\nissuing a press release announcing that the expiry date shall be\ndeemed to be on the 30\n \n th\n \n day following the date of such press release (the “\n \n Accelerated Expiry Date\n \n ”).  All\nWarrants that remain unexercised following the Accelerated Expiry Date\nshall immediately expire and all rights of holders of such Warrants\nshall be terminated without any compensation to such holder.\n \n\n\n Subject to compliance with applicable regulatory\nrequirements and in accordance with National Instrument 45-106\n-\n \n\n Prospectus\nExemptions\n \n\n (\"\n \n\n NI 45-106\n \n\n \"), the\nLIFE Offering is being made to...