Ares Strategic Mining Inc. announced a non-brokered private placement of 6,780,500 common shares at a price of CAD 0.20 per share for gross proceeds of CAD 1,356,100 on December 15, 2023. The closing of the Offering is subject to all required regulatory approvals, including the acceptance of the Canadian Securities Exchange. No finder?s fees were paid in connection with the Offering.

The shares will be subject to a statutory hold period of four months and one day from the date of issue. The company raised the funding pursuant to Regulation D in the transaction from single investor.