Ares Strategic Mining Closes First Tranche of LIFE Offering and Files Amended and Restated Offering Document

Executive Summary

• Ares Strategic Mining closed the first tranche of its Initial LIFE Offering, issuing 11,111,112 units at $0.45 each for gross proceeds of $5,000,000.40.
• The company filed an amended and restated offering document to increase the total offering by up to 1,111,110 additional units, targeting up to $5,499,999 in additional gross proceeds, with a new closing deadline 45 days from this release.
• Net proceeds are earmarked for development of the fluorspar manufacturing facility in Delta, Utah, general corporate working capital, and repayment of outstanding debt.

Key Details

• First Tranche Closing: 11,111,112 Units @ $0.45 per Unit → $5,000,000.40 gross proceeds.
• Unit Composition: 1 common share + ½ non‑transferable common share purchase warrant (exercisable at $0.55 for two years).
• Finder’s Compensation: $300,000.02 cash paid and issuance of 666,667 Finder’s Warrants to Ventum Financial Corp. (each warrant allows purchase of one common share at $0.45; 4‑month hold period).
• Amended Offering Document: Increases total units to 12,222,220 (up to an additional 1,111,110 units) at the same price ($0.45), targeting up to $5,499,999 in gross proceeds.
• Extension Period: Amended LIFE Offering now open for an additional 45 days from the date of this release.
• Use of Proceeds (Amended Offering):
• Development of fluorspar manufacturing facility in Delta, Utah.
• General and corporate working capital.
• Repayment of outstanding debts.
• Regulatory Notes: Securities are not registered under the U.S. 1933 Act and may not be offered or sold in the United States absent exemption.

Notable Quotes

“We are pleased to have successfully closed the first tranche of our offering and to provide investors with an expanded opportunity through the amended LIFE Offering, which will fund critical development of our fluorspar facility and strengthen our balance sheet.” – James Walker, CEO & President, Ares Strategic Mining Inc.