Pegasus Resources Completes Private Placement Raising $871,120

Pegasus Resources Inc., a Vancouver-based mineral exploration company, has successfully closed the final tranche of its non-brokered private placement. The total gross proceeds raised amount to $871,120, with 5,444,500 units issued at a price of $0.16 per unit. Key company insiders, including Director Noah Komavli and CEO Christian Timmins, acquired a combined 450,000 units during the process.

Each unit comprises one common share and one-half of a transferable warrant, allowing holders to purchase additional shares at $0.20 within two years. The funds will support exploration at the Energy Sands Uranium Project and Jupiter Uranium Project in Utah, USA, as well as general corporate purposes. Pegasus availed exemptions to regulatory requirements under Multilateral Instrument 61-101, as insider participation was below 25% of the company's market capitalization.