Ares Strategic Mining (TSE:ARS) has released an update.
Ares Strategic Mining Inc. has successfully closed the second tranche of its non-brokered private placement, raising a total of $996,709.86 by issuing over 5.5 million units at $0.18 each. This brings the company’s total raised funds to approximately $2.07 million from both tranches, contributing to the development of the only fluorspar mine in the U.S. and its transition from mining to manufacturing. The funds are earmarked for the installation of new mine works and a processing plant, with a new manufacturing facility on the horizon.
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