(via TheNewswire)
Royalty Payment
The Company announces that it has, effective as of
The Debenture bears interest at a rate of 5% per annum, accruing from
Market Price | Percentage Premium |
Up to | 25% |
20% | |
Above | 15% |
Each Warrant entitles the holder, on exercise, to purchase one Share for a period of two years following the signing date of the Debenture agreement. Any securities issuable upon their due conversion are subject to a statutory hold period expiring on the date that is four months and one day after the date of issue.
Private Placement
The Company is also pleased to announce that it has successfully completed the Private Placement for gross aggregate proceeds of approximately
Option Cancellation
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
ON BEHALF OF THE BOARD OF DIRECTORS OF
ARES STRATEGIC MINING LTD.
Chief Executive Officer and President
For further information, please contact
DISCLOSURE AND FORWARD-LOOKING STATEMENTS:
Certain information in this news release may contain forward-looking statements that involve substantial known and unknown risks and uncertainties. Forward-looking statements are often identified by terms such as “will”, “may”, “should”, “anticipate”, “expects” and similar expressions. All statements other than statements of historical fact included in this news release are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company’s expectations include the failure to satisfy the conditions of the relevant securities exchange(s) and other risks detailed from time to time in the filings made by the Company with securities regulations.The novel strain of coronavirus, COVID-19, also poses new risks that are currently indescribable and immeasurable.The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Company. The reader is cautioned not to place undue reliance on any forward-looking information. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The forward-looking statements contained in this news release are made as of the date of this news release and the Company disclaims any intention or obligation to update or revise such information, except as required by applicable law.
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