Ares Strategic arranges $10-million private placement

Executive Summary

• Ares Strategic Mining Inc. announced a non‑brokered “Life” private placement to raise up to $10 million by issuing 22,222,222 units at $0.45 per unit.
• Each unit includes one common share and half of a non‑transferable warrant; warrants are exercisable at $0.55 for two years after closing.
• Net proceeds will be used for general corporate working capital and to repay outstanding debt, with possible finder’s fees payable to eligible parties.

Key Details

• Units Offered: Up to 22,222,222 units @ $0.45 per unit → gross proceeds up to $10 M.
• Unit Composition: 1 common share + ½ non‑transferable common share purchase warrant.
• Warrant Terms: Each warrant convertible into one common share at $0.55 per share; exercisable for 2 years post‑closing.
• Offering Structure: Non‑brokered private placement under the listed issuer financing exemption (LIFE) of NI 45‑106, available to Canadian investors excluding Quebec.
• Use of Proceeds: General and corporate working capital; repayment of outstanding debts.
• Finder’s Fees: May be paid to eligible arm’s‑length persons for certain subscriptions.
• Closing Timeline: Offering to close in one or more tranches; final tranche expected within 45 days of the announcement, subject to regulatory approvals and CSE filing obligations.

Notable Quotes

(No executive quotes were provided in the release.)