Personnel changes at Ares- anyone have any insight?
Ares Strategic Mining Forward Pays Royalty on Utah Mine, Cancels Stock Options, and Closes Private Placement
January 07, 2022 -- (Ares Strategic Mining Inc) --
(TheNewswire)Vancouver, B.C. - TheNewswire - January 7, 2022 Ares Strategic Mining Inc. (Ares or the Company) (CSE:ARS) (CNSX:ARS.CN) (OTC:ARSMF) (FRA:N8I1), is pleased to announce that the Company has arranged for the payment, in full of a royalty (the Royalty) retained by the sellers of the Companys Lost Sheep property located in the Spor Mountain area, Juab County, Utah (the Lost Sheep Fluorspar Project), closed its non-brokered private placement for gross aggregate proceeds of approximately $666,852 (the Private Placement), and cancelled an aggregate of 6,200,000 stock options (each, an Option) of the Company.
Based on certain changes in personnel, the Company also announces that it has cancelled an aggregate of 6,200,000 Options. The subject Options were cancelled effective January 7, 2022, and are comprised of 750,000 Options previously granted on August 30, 2020 at an exercise price of $0.15 per Share and 5,450,000 Options previously granted on May 19, 2021 at an exercise price of $0.62 per Shares.