ARSMF - Ares Strategic Mining Announces Results of AGM
(TheNewswire)
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- Company successfully obtains shareholder approval toproceed with its lumps plant purchase.
- Shareholders authorize company to move Exchanges tofacilitate ease of operational business.
Vancouver, B.C. - TheNewswire- July 12 th , 2021 - AresStrategic Mining Inc. (“Ares” or the “Company”) (TSXV:ARS)(OTC:ARSMF) (FRA:N8I1), today announced the results of its July 5,2021 annual general and special meeting of shareholders.
Purchase of Ares’ Lumps ProcessingPlant
The Scrutineer reportedthat 99.737% of the 41,817,458 votes cast at the meeting byshareholders were in favor of the purchase of the lumps plant. 41,817,458. The Company will now proceed withthe completion of the purchase and arrange delivery.
Election of Directors
The Company is pleased to announce the following 6directors have been elected to the Company's Board ofDirectors:
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- James Walker
- Karl Marek
- Bob Li
- Paul Sarjeant
- Raul Sanabria
- Michael Li
There were no further nominations.
Delisting of the Common Shares fromTSX Venture Exchange
The Scrutineer reported that 99.187% of the 31,414,800votes cast by Shareholders at the meeting were in favor of delistingfrom the TSXV. The Chairman declared that the delisting resolution wasauthorized and approved. The Company will now proceed with the processto delist from the TSXV and relist on the Canadian Stock Exchange(CSE).
Appointment of Auditor
At the meeting, shareholders reappointed the Company'sauditors, Manning Elliott LLP is duly appointed as Auditor of theCorporation, and that the Directors of the Corporation be authorizedto fix the remuneration to be paid to the Auditor.
The Scrutineer reported that 41,600,636 shares or99.26% voted for the plan. The affirmative vote was received andsufficient for approval. The Chairman stated that the Option PlanResolution approving the Corporation’s StockOption Plan has been passed by the votes at this meeting and declaredthat the rolling Stock Option Plan of the Corporation is authorizedand approved.
Presentation of Audited financialstatements and report of auditor
The Chairman believed that each registered shareholderhas had an opportunity to examine the statements and the auditorreport and asked that the statements and the report be taken.
James Walker, President and CEO of the Company said,“We are extremely happy with the AGM results and wish to thank ourshareholders for their continued support. With the strength andexperience of our re-elected Board members, we are extremely confidentthat Ares’ Board of Directors will be able to execute theCompany’s business strategy and add value to our shareholders. Weare excited to proceed with the purchase of its lumps plant, and ourmove to the CSE. The Company is in a stronger strategic andoperational position post-AGM thanks to our shareholders.”
In 2018 the U.S. government classified fluorspar as aCritical Mineral, “deemed critical to U.S. national security and theeconomy”. Fluorspar remains the only non-metallic Critical Mineralwhich is 100% imported in the entire country. Fluorspar’sclassification as a Critical Mineral in the United States translatesto a faster permitting period, enabling mining operations to initiatemore quickly than operations for conventional minerals.
Lost Sheep Fluorspar Project – Delta, Utah
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- 100% owned – 2,100 acres – 118 Claims
- Located in the Spor Mountain area, Juab County, Utah,approximately 214 km south-west of Salt Lake City.
- Fully Permitted – including mining permits.
- NI 43-101 Technical Report identified extensivehigh-grade fluorspar with low levels of impurities.
- Mining plan approved by BLM 1
First approved by Rex Rowley – Area Manager, Bureauof Land Management – 24th August 1992.
Renewed by Paul B. Baker – Minerals ProgramManager, Bureau of Land Management – 12th December 2016.
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 byemail at jwalker@aresmining.com
Neither the TSX Venture Exchange norits Regulation Service Provider (as that term is defined in thepolicies of the TSX Venture Exchange) accepts responsibility for theadequacy or accuracy of this release. No stock exchange, securitiescommission or other regulatory authority has approved or disapprovedthe information contained herein.
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