Ares Strategic Mining Inc. Announces Closing of Plan of Arrangement
ARES STRATEGIC MINING INC. ANNOUNCES CLOSING OF PLAN OF ARRANGEMENT
Vancouver, B.C. – September 15, 2023 – Ares Strategic Mining Inc. (the “Company” or “Ares”)) (CSE: ARS;
OTC: ARSMP; FRA: N81) announces that, further to its news release dated September 1, 2023, that the
previously announced plan of arrangement (the “ Arrangement”), including the spin -off of its wholly-
owned subsidiary, Enyo Strategic Mining Inc. (“Enyo”), closed today.
The Arrangement was approved by the shareholders (the “ Shareholders”) of the Company’s common
shares at an annual and special meeting held on November 23, 2022 and by the Ontario Superior Court of
Justice in its final order dated December 1, 2022.
The Arrangement included a transfer of Ares’ ownership and rights in and to the Liard property and
Vanadium Ridge property located in British Columbia, Canada to Enyo in consideration of 13,900,065
common shares of Enyo (the “ Enyo Spinout Shares”). In addition, the Company completed a capital
reorganization which included the renaming and re-designation of its common shares (the “Existing Ares
Shares”) and the creation of a new class of common shares (the “New Ares Shares”). The Shareholders at
the close of business on September 14, 2023 received one New Ares Share and 0.1 of an Enyo Spinout
Share in exchange for each Existing Ares Share that was held by such Shareholder.
Following the closing of the Arrangement, Enyo is now a separate unlisted “reporting issuer” in each of
British Columbia, Alberta, Saskatchewan, Manitoba, Ontario, Nova Scotia, New Brunswick, Prince Edward
Island and Newfoundland and Labrador. Enyo owns Ares’ interests in the Liard property and the Vanadium
Ridge property. The Liard property consists of eighteen (18) mineral claims totaling 4,825 hectares,
located in north-central British Columbia. The Vanadium Ridge property consists of twenty (20) mineral
claims, of which Ares is the recorded owner of 50% of such claims, located near Barriere, British Columbia.
For additional details regarding the Arrangement, see the Company’s management information circular
as filed on the Company’s page on SEDAR+ on November 2, 2022.
ON BEHALF OF THE BOARD OF DIRECTORS OF
ARES STRATEGIC MINING INC.
“James Walker”
James Walker, CEO
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CW20849942.2
For further information, please contact:
James Walker, CEO
Ares Strategic Mining Inc.
T: 604.345.1576
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press release.