Ares Strategic Mining Inc. (ARSMF) has filed an amended Form F-10 shelf registration to offer up to US$100 million of securities, including common shares, warrants, subscription receipts, share purchase contracts, units and American depositary shares, over a 25‑month period under a Canadian short form base shelf prospectus.
The company is a fluorspar developer in Utah, transitioning from project construction to initial commissioning, with construction in progress of C$49.9 million as of June 30, 2026 and no sustained commercial processing or sales yet. It has applied to list ADSs on Nasdaq under “USAM”, while its common shares trade on the CSE and OTCQX.
Ares highlights a five‑year U.S. Department of Defense acidspar supply contract with a US$2 million guaranteed minimum and US$250 million ceiling, but no revenue has been recognized and first delivery timing remains uncertain. The company reports continued losses, a working‑capital deficit and covenant breaches on a USDA‑guaranteed facility, and discloses that additional financing is required to complete its Delta Processing Site and ramp up operations, making an investment in the securities highly speculative.
Ares Strategic Mining Inc. files a base shelf registration to offer up to US$100 million of securities for sale from time to time while the prospectus remains effective.
The shelf permits the sale of Common Shares, Warrants, Subscription Receipts, Share Purchase Contracts, Units and Depositary Shares in separate offerings or combinations, with specific terms to be provided in Prospectus Supplements. The Company disclosed 267,801,011 Common Shares issued and outstanding and that its Spor Mountain (Lost Sheep) property in Utah is its sole material mineral property.