Aries I Acquisition Corporation Announces Extension of Deadline to Complete Business Combination

May 16, 2022

Aries I Acquisition Corporation (NASDAQ: RAMMU, RAM, RAMMW) (“Aries” or the “Company”), a special purpose acquisition company, announced today that, on May 13, 2022, it notified the trustee of the Company’s trust account that it was extending the time available to the Company to consummate a business combination from May 21, 2022 to August 21, 2022 (the “Extension”). The Extension is the first of up to two three-month extensions permitted under Aries’ governing documents. In connection with such Extension, Aries Acquisition Partners, Ltd., the Company’s sponsor, will deposit an aggregate of $1,078,125 into Aries’ trust account prior to May 21, 2022, on behalf of the Company. The Extension provides Aries with additional time to complete its proposed business combination with Infinite Assets, Inc., a leading Metaverse infrastructure platform that enables brands to create, monetize and drive consumer engagement with digital content.

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