Ares Strategic closes first tranche of offering

Executive Summary

• Ares Strategic Mining Inc. has closed the first tranche of its LIFE (Listed Issuer Financing) offering, raising $5,000,000.40 in gross proceeds.
• The company filed an amended and restated offering document to increase the total size of the offering to 12,222,220 units, with total gross proceeds of up to $5,499,999.
• Net proceeds are designated for the development of the fluorspar manufacturing facility in Delta, Utah, general corporate working capital, and debt repayment.

Key Details

• Tranche 1 Closing:
  • Units Issued: 11,111,112 units.
  • Price Per Unit: $0.45 CAD.
  • Gross Proceeds: $5,000,000.40.
  • Regulatory Basis: Listed issuer financing exemption under Part 5A of National Instrument 45-106.
• Unit Structure:
  • Each unit consists of one common share and one-half of one non-transferable common share purchase warrant.
  • Warrant Exercise Price: $0.55 per share.
  • Warrant Term: Two years from the date of issuance.
• Finder’s Fees (Tranche 1):
  • Cash Paid: $300,000.02.
  • Finder’s Warrants Issued: 666,667 warrants to Ventum Financial Corp.
  • Finder’s Warrant Terms: Exercisable at $0.45 per share for two years; subject to a four-month hold period.
• Amended Offering Details:
  • Original Offering Document Date: October 10, 2025.
  • Increase in Offering Size: Up to 1,111,110 additional units.
  • Total Amended Offering Size: 12,222,220 units.
  • Total Gross Proceeds Cap: Up to $5,499,999.
  • Offering Extension: Extended to 45 days from the date of the news release.
• Use of Proceeds:
  • Development of the fluorspar manufacturing facility in Delta, Utah (currently under construction).
  • General and corporate working capital.
  • Repayment of outstanding debts.