Pegasus Resources Inc. announced a non-brokered flow through private placement of up to 37,500,000 units at an issue price of CAD 0.04 per unit for gross proceeds of up to CAD 1,500,000 on December 13, 2022. Each unit consists of one common share of the Company that qualifies as a flow-through share and one non-flow-through share purchase warrant, entitling the holder to acquire an additional common share of the Company at a price of CAD 0.06 for a period of 24 months from the date of issuance. The common shares, share purchase warrants and shares underlying the share purchase warrants will be subject to a four-month-and-one-day statutory hold period from the date of issuance.

Closing of the transaction remains subject to the receipt of all regulatory approvals, including the approval of the TSX Venture Exchange .The Company may pay finder's fees as permitted by TSXV and applicable securities laws.