Pegasus Resources Closes First Tranche of Private Placement

Pegasus Resources Inc. has successfully closed the first tranche of its non-brokered private placement, raising gross proceeds of $647,640. A total of 4,047,750 units were issued at a price of $0.16 per unit. Director Noah Komavli and CEO Christian Timmins participated by subscribing for 100,000 and 75,000 units, respectively. Each unit consists of one common share and one half of a transferrable common share purchase warrant, exercisable at $0.20 within two years.

Finder's fees amounting to $15,862 and 99,138 finder's warrants were paid to arm's-length parties. The proceeds will be directed towards exploration of the Energy Sands Uranium Project and Jupiter Uranium Project in Utah, USA, as well as for general working capital purposes.

The company has extended the offering deadline to October 5, 2024, and may close additional tranches before this date. The offering has been categorized as a "related party transaction" due to the participation of insiders, but exemptions were used as their involvement is below 25% of the company’s market capitalization.