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 at a deemed price of $0.28 per share, representing about 3.53 million shares. The investment reflects management's belief in the company's long-term value as it transitions from a development-stage company to an emerging producer.
The company has achieved major milestones, including commencing mining at the Lost Sheep Mine, growing ore stockpiles at surface, and continuing construction on its Lumps Plant and Acidspar Flotation Plant. Ares also recently secured a U.S. Department of Defense fluorspar supply contract, positioning itself as a strategic critical mineral supplier within the United States.
James Walker, President and CEO of Ares Strategic Mining, stated: "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, advancement toward processing operations, development of domestic acidspar production capacity, execution of government contract opportunities, and expansion of commercial relationships. The insider investment comes as Ares strengthens its balance sheet and market position.
Ares also renewed its engagement with Pivotal CM Limited for investor communications, digital strategy, and marketing initiatives. 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.
Additionally, the company agreed to settle $69,046.47 of debt by issuing 246,595 common shares at $0.28 per share to Prospero and Craven Capital for financial services provided.
In a board change, Lorenzo Esteva stepped down from the Board of Directors in response to public commentary regarding his prior regulatory history. The company noted that certain public statements contained misrepresentation and erroneous characterizations, and Esteva's lawyer clarified that he voluntarily resigned his FINRA registrations and disputed most allegations. Ares expressed regret over inaccurate publications that led to his departure.
James 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."
