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Financings

Ares Strategic Mining Expedites Company Roadmap and Production Plan Ahead of Government Contract

By The Northwire Desk — AI Analysis Feb 05, 2026 · 07:30 ARS · 0.455 Ares Strategic Mining Inc.
ARS · Price

Executive Summary

  • Ares Strategic Mining secured $10 million CAD from a closed unit offering (16.67 M units at $0.60 each) to accelerate its fluorspar production roadmap and meet a U.S. Department of Defense contract valued up to USD $250 million.
  • The company disclosed cumulative proceeds from three separate financing facilities with Sorbie Bornholm LP, showing total receipts exceeding benchmark amounts by $269,758.66.
  • An additional 700,000 stock options were granted to consultants at an exercise price of $0.63 per share, expiring January 23 2028.

Key Details

  • DoD Contract: Ceiling USD $250 M; deliveries required within 36 months of each order (first order dated Dec 30 2025) through Dec 29 2030.
  • Unit Offering: 16,666,666 units issued at CAD $0.60 per unit → gross proceeds ≈ CAD $10 M.
  • Financing Facility #1 (Sept 2024): Benchmark $1,000,000; gross proceeds received $1,119,564.38; variance +$119,564.38; upfront fees $105,000.
  • Financing Facility #2 (Apr 2025): Benchmark $375,003; gross proceeds received $727,313.86; variance +$352,310.86; upfront fees $70,000.
  • Financing Facility #3 (Oct 2025): Benchmark $125,001; gross proceeds received $97,884.42; variance –$27,116.58; no upfront fees.
  • Total Financing Variance: Receipts exceed benchmarks by $269,758.66.
  • Option Grant: 700,000 options issued Jan 23 2026; exercise price $0.63 per share; expiration Jan 23 2028.
  • Production Plan Acceleration: $10 M funding enables Phase 3 of the plan, fast‑tracking construction of a flotation plant at Spor Mountain to produce high‑grade fluorspar for 2026 deliveries.

Notable Quotes

“The DoD contract has transformed our company roadmap, and the race is on to deliver as much quality fluorspar as we can… The latest funding will help us reach our first DoD deliveries, and crucially, to reach the ceiling of the award in the timeframe specified.” – James Walker, CEO & President

“We’re proud to champion this funding publicly; it’s yet another clear vote of confidence in our mission, and enables us to revise our roadmap and production plans.” – James Walker, CEO & President

Read the original news release →

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