Pegasus Resources Inc. Extends Private Placement and Provides Drilling Update

VANCOUVER, BC / ACCESSWIRE / October 2, 2024 – Pegasus Resources Inc. (TSX-V:PEGA)(Frankfurt:0QS0)(OTC Pink:SLTFF) has announced a 30-day extension to its non-brokerage private placement originally announced on July 22, 2024. The offering aims to raise up to CDN$1,500,000 through the issuance of up to 9,375,000 units at a price of CDN$0.16 per unit.

Each unit consists of one common share and one-half of a common share purchase warrant. Each warrant allows the holder to acquire one common share at a price of CDN$0.20 for two years from the offering's closing date. The company raised gross proceeds of CDN$647,640 in the first tranche closed on September 3, 2024.

Additionally, Pegasus Resources updated on drilling activities. The Bureau of Land Management visited the Jupiter and Energy Sands sites to review proposed drilling locations. CEO Christian Timmins expressed excitement about ongoing developments and the company's strategic progress.

The offering is expected to close on or about November 1, 2024.