Pegasus Resources Inc. announced a non-brokered private placement of 15,000,000 units at a price of CAD 0.05 per unit for gross proceeds of CAD 750,000 on September 19, 2022. Each unit consists of one common share and one common share purchase warrant. Each warrant can be exercised to acquire one common share at a price of CAD 0.075 per share for a period of two years from the date of closing.

The transaction is subject to approval from regulatory authorities and TSX Venture Exchange. The securities are being subject to four months and one day hold period.