The Board of Ares Strategic Mining Inc. (CNSX:ARS) announced the Split Off of Enyo Strategic Mining Inc. on September 27, 2022. The definitive agreement is formed on October 11, 2022. The Arrangement will include a transfer of the Spinout Properties to Enyo, and Ares? shareholders will receive Enyo Spinout Shares by way of a share exchange, pursuant to which each existing common share of Ares will be exchanged for one new common share of Ares and 0.1 of an Enyo Spinout Share. The Arrangement is anticipated to be completed in early December 2022, subject to receipt of required shareholder, Court and other approvals and satisfaction of other closing conditions. As of September 5, 2023, the record date is set at September 8, 2023. As of September 8, 2023, the record date has been changed to September 14, 2023. The Arrangement is now expected to be effective on September 15, 2023. Shareholders of the Company approved the Arrangement at a meeting held on November 23, 2022. On December 1, 2022, the Court rendered a final order approving the Arrangement.

Ares Strategic Mining Inc. completed the Split-Off of Enyo Strategic Mining Inc. on September 15, 2023.