Ares Strategic Mining IncCSE: ARS

Corporate Update

· Issued by Ares Strategic Mining Inc via TheNewswire

Summary by 6ix AI

Ares Strategic Mining Inc., listed on the Canadian Securities Exchange, said on October 20th, 2026 that it has agreed to settle US$1,000,000 (C$1,415,400) of outstanding debt by issuing 5,550,588 common shares at a deemed price of C$0.255 per share, the value per share assigned for the settlement.

Key details

  • The debt relates to development of Ares's mine and processing facility.
  • The debt was originally owed to Provo Mining and Construction, Inc. and was assigned to Roy Durr, who asked to be paid in shares as an investment in Ares.
  • Ares says the settlement will reduce its liabilities while preserving cash for operations.

6ix AI wrote this summary from the release below and checked it against the release.

On 6ix: 6ix.com/news/corporate-update-289

  

Vancouver, BC – TheNewswire - October 20th, 2026 – Ares Strategic Mining Inc. (“Ares” or the “Company”) (CSE: ARS) Ares Strategic Mining Inc. announces that it has agreed to settle US$1,000,000 (C$1,415,400) of outstanding debt relating to mine and processing facility development through the issuance of 5,550,588 common shares at a deemed price of C$0.255 per share. The debt, originally owed to Provo Mining and Construction, Inc., was assigned to Roy Durr, who requested settlement in shares as an investment in Ares. The settlement will reduce the Company’s liabilities while preserving cash for operations.

 

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

 

View original source (TheNewswire)Ares Strategic Mining Inc on 6ix

Earlier from Ares Strategic Mining

All Ares Strategic Mining news releases