Ares Strategic Mining Closes Second Tranche of Offering for Gross Proceeds of $5,499,850
October 21, 2025 — Leads & Copy — Ares Strategic Mining Inc. has closed the second and final tranche of its previously announced offering of units, issuing 12,221,889 units at $0.45 per unit, for gross proceeds of $5,499,850.
The company announced a non-brokered private placement offering of units on October 10, 2025, and filed an amended offering document on October 17, 2025, offering up to 12,222,220 units at $0.45 per unit for gross proceeds of up to $5,499,999. To date, the company has raised $10,499,850.45 under the LIFE Offering and Amended LIFE Offering.
Each unit consists of one common share and one-half of one non-transferable common share purchase warrant. Each whole warrant is exercisable into one common share at $0.55 per warrant share for two years.
In connection with the closing of the second tranche, $267,965.98 was paid in cash and 595,480 finder’s warrants were issued as finder’s fees. Each finder’s warrant entitles the holder to acquire one common share at $0.55 per share for two years. The finder’s warrants are subject to a 4-month hold period.
The company also corrected its news release dated October 17, 2025, stating that the correct exercise price of each first tranche finder’s warrant is $0.55 per finder’s warrant share, not $0.45.
Concurrently with closing the second tranche, the company entered into hedging arrangements with Sorbie Bornholm LP, using the $1 million in gross proceeds payable by Sorbie for units to acquire UK government bonds as credit support. The hedging transactions will be determined and payable in 24 monthly settlement tranches based on the volume weighted average price of the common shares measured against a benchmark price of $0.63.
To date, Ares has received approximately 12% extra cash under the two previous and ongoing sharing agreements with Sorbie, without issuing any additional shares.
Contact: James Walker, Chief Executive Officer and President, jwalker@aresmining.com
Source: Ares Strategic Mining Inc.
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