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 [email protected].

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: [email protected]

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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