Pegasus Initiates Shares for Debt Settlement

Pegasus Resources Inc. has announced its decision to settle outstanding debt amounting to $140,232.29 through the issuance of 1,598,682 common shares. The "Shares for Debt Transaction" values each share at $0.087717. This strategic move is designed to conserve cash as the company advances its uranium exploration strategy and optimizes its balance sheet.

The completion of this transaction is pending customary closing conditions, including approval from the TSX Venture Exchange. The newly issued shares will be under a statutory hold period of four months and one day as per the relevant securities laws. This step aligns with Pegasus's ongoing efforts to streamline operations and enhance its market positioning in the uranium sector.