London, UK – 18 September 2024 – Sorbie Bornholm LP, (“Sorbie”) a UK Investment Fund, is pleased to announce a new investment in Ares Strategic Mining Inc. (“Ares” or “Company”) (CSE:ARS; OTC: ARSMF; FRA: N8I). The gross amount of the investment is $1,500,000 (CAD). The securities consist of units and warrants. The funds will go towards advancement of Ares’ Lost Sheep Mine in Utah, USA.
About Ares Strategic Mining Inc.
Ares owns the only permitted fluorspar mine in the USA and will soon be the only domestic supplier of fluorspar, a critical mineral largely irreplaceable in its use, and vital to domestic industries. The mine and its associated facilities are currently under construction and the team is on track to surpass typical industry timelines by moving to production in less than a third of the time usually required.
Originally purchased by Ares in 2020, the 100% owned Lost Sheep Mine in Utah contains extensive high-grade fluorspar with low levels of impurities. Fluorspar has a wide ranging list of applications, including production of steel, refrigerant, cement, glass, and lithium-ion batteries. Fluorspar is the commercial name for the naturally occurring mineral fluorite, composed of calcium and fluorine, a non-metallic element and the lightest of the halogens. The mine is fully permitted and financially backed by the state of Utah, the US Federal government, and now institutional investor, Sorbie Bornholm LP.
On 22 August 2024, Ares announced a non-brokered private placement offering of Units (the “LIFE Offering”) at a price of $0.18 per Unit. For additional details relating to the LIFE Offering, please see the Company’s previously filed news releases which are available under the Company’s profile on www.sedarplus.com. The LIFE Offering, as facilitated by Capiche, can be accessed HERE and, is anticipated to close on or before 6 October 2024.
Ares entered into a Sharing Agreement dated 23 August 2024 with Sorbie (the “Sharing Agreement”). This Sharing Agreement allows Ares to retain much of the economic interest in the Sorbie Subscription Shares. The Sharing Agreement is designed to provide Ares with flexibility in continuing to aggressively advance the Lost Sheep Mine towards production of metallurgical and acid-grade fluorspar, while maintaining a constant source of funds covering a portion of Ares’ short to medium term cash flow requirements.
For more information on Ares, please contact:
James Walker, CEO
jwalker@aresmining.com
www.aresmining.com
About Sorbie Bornholm LP
Sorbie Bornholm LP is a global investment firm that provides funding for ongoing business objectives to listed micro, small and mid-cap growth companies. We focus on public equity investments in companies that are looking to expand – and on management teams with a clear growth strategy. Our extensive experience allows us to invest in most industries – and to focus on providing supportive, longer term capital that rewards company growth.
Since 2000, Sorbie Bornholm LP founder Greg Kofford has perfected the “Sorbie-Strategy”, utilizing a sharing agreement that supports management and rewards growth. This unique approach has now been used in over 70 investments – with many of those resulting in the companies receiving more cash than the original offering proceeds, without having to issue any additional shares.
Sorbie Bornholm’s core values drive who we are and how we invest. We are committed to developing long-term relationships with select listed public companies and their brokers & advisers. We focus on providing supportive, longer term capital that rewards growth. We invest to make a difference, to become a valued partner and to be a shareholder of choice. It’s important to us that we succeed together.
To see if the Sorbie-Strategy is right for your company, please contact Sorbie Bornholm:
Whitney Kofford, Managing Director
+1-801-554-5889
whitney@sorbiebornholm.com