Le Lézard
Classified in: Mining industry, Business
Subject: FINANCING AGREEMENTS

Pegasus Resources Amends Private Placement


VANCOUVER, British Columbia, Oct. 19, 2022 (GLOBE NEWSWIRE) -- Pegasus Resources Inc. (TSX-V: PEGA; Frankfurt ? OQS2, OTC/Pink Sheet symbol SLTFF) (the "Company" or "Pegasus") reports that it has amended its private placement previously announced September 19, 2022. The private placement will now comprise of up to 15,000,000 units at a price of $0.03 per unit for total gross proceeds of up to $450,000. Each unit consists of one common share and one transferable share purchase warrant, entitling the holder to acquire an additional common share of the Company at a price of $0.05 for a period of twenty four (24) months from the date of issuance.

Proceeds of the private placement will be used as shown in the table below. Unallocated working capital will be used to maintain operations, and cover general and administrative expenses for the next 6 months. Finders' fees may be payable in whole or in part on the placement pursuant to the policies of the TSX Venture Exchange. The private placement is subject to the acceptance of the TSX Venture Exchange.

Proposed Financing $450,000
   
Proposed Use of Financing:  
  • Ground Exploration
  70,000
  • TSX filing fees
  3,500
  • Accounting fees Q1/Q2
  5,200
  • Audit Fees
  28,000
  • Property payments outstanding
  25,000
  • Transfer Agent
  2,500
  • Legal
  15,000
  • AGM budget
  5,000
  • Loan repayments (non-related parties)
  70,000
  • Professional fees (geologist etc)
  50,000
  • Internet/Phone
  7,000
  • Consultants (non-related parties)
  45,000
  • Related Parties
  45,000
  • Unallocated working capital
  78,800
   
Total Use of Financing $450,000

About Pegasus Resources Inc.
Pegasus Resources Inc. is a diversified Junior Canadian Mineral Exploration Company with a focus on uranium, gold and base metal properties in North America. The Company is also actively pursuing the right opportunity in other resources to enhance shareholder value. For additional information please visit the Company at www.pegasusresourcesinc.com or contact Charles Desjardins at charles@pegasusresourcesinc.com.

On Behalf of the Board of Directors

Charles Desjardins
CEO and Director
Pegasus Resources Inc.
700 ? 838 West Hastings Street
Vancouver, BC V6C 0A6
PH: 1-604-369-8973
E: info@pegasusresourcesinc.com

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Forward Looking Statements
Statements included in this announcement, including statements concerning the Company's plans, intentions and expectations, which are not historical in nature are intended to be, and are hereby identified as, "forward-looking statements". Forward-looking statements may be identified by words including "anticipates", "believes", "intends", "estimates", "expects" and similar expressions. The Company cautions readers that forward-looking statements, including without limitation those relating to the Company's future operations and business prospects, are subject to certain risks and uncertainties that could cause actual results to differ materially from those indicated in the forward-looking statements.



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News published on 19 october 2022 at 17:00 and distributed by: