Pegasus Resources to issue 1.59 million shares for debt

Jun 11, 2025

2025-06-11 18:15 ET – News Release

Mr. Christian Timmins reports

PEGASUS ANNOUNCES SHARES FOR DEBT SETTLEMENT

Pegasus Resources Inc. has entered into debt settlement agreements with various creditors to settle an aggregate amount of $140,232.29 in outstanding debt obligations through the issuance of an aggregate of 1,598,682 common shares of Pegasus at a deemed price of 8.7717 cents per common share.

The share-for-debt transaction is intended to preserve the company’s cash resources as it advances its uranium exploration strategy and continues to streamline its balance sheet.

Closing of the share-for-debt transaction is subject to customary closing conditions, including the approval of the TSX Venture Exchange. The common shares to be issued pursuant to the share-for-debt transaction will be subject to a statutory hold period of four months and one day from the date of issuance, in accordance with applicable securities laws and TSX-V policies.

About Pegasus Resources Inc.

Pegasus Resources is a Canadian uranium exploration company focused on advancing high-potential projects in the United States. The company’s flagship asset, the Jupiter uranium project in Utah, is a drill-ready property positioned for resource expansion. With a commitment to strengthening domestic uranium supply, Pegasus is strategically developing its portfolio to capitalize on the growing demand for nuclear energy.

We seek Safe Harbor.

https://www.pegasusresourcesinc.com/