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Private Placement: Pegasus Resources (TSXV:PEGA)

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The company is looking to raise gross proceeds of up to $500,000 from the placement of up to 10 million units priced at $0.05 per unit. The units consist of 1 share and 1 warrant, with the warrant exercisable at $0.10 for 24 months.

Additional Information:

Website: http://www.PegasusResourcesInc.com
Stock Symbol: Pegasus Resources
Date Published: May 17, 2021
Transcript: Available

Video Transcript:

I’m Megan Edwards for Investmentpitch Media

Pegasus Resources has announced a non-brokered private placement.

The company is looking to raise gross proceeds of up to $500,000 from the placement of up to 10 million units priced at $0.05 per unit.

The units consist of 1 share and 1 warrant, with the warrant exercisable at $0.10 for 24 months.

The shares are currently trading at $0.06.

Net proceeds will be used to explore its recently optioned Millionara property in Nevada, the Golden Project near Golden British Columbia and for general operating expenses.

The Millionara property, located 112 kilometres north of Elko, Nevada, is considered an intermediate stage exploration project within the regional Independence Gold Trend.

To acquire its 100% interest in the property, Pegasus is paying US$575,000 and 1,500,000 shares of Pegasus over a 36-month period.

The majority of the historical exploration on the property, between 1986 and 1991, focussed on exploring the Range Front Structure which returned 19.8 meters of 3.63 g/t gold and 21.3 meters of 4.05 g/t gold from two holes.

The Millionara property is approximately 25 km northwest of the Jerritt Canyon Gold Mine, which produced more than 9.5 million ounces of gold since 1981 and was recently purchased by First Majestic Silver Corp. in a $470 million plus share deal.

The Golden project features three properties along a trend located along the British Columbia – Alberta border.

Gold Mountain, an early-stage gold/silver property located approximately 50 km NW of Golden, encompasses the historic Grizzly occurrence featuring gold and silver hosted within polymetallic quartz / carbonate veins.

The Vertebrae Ridge property, approximately 30 km NW of the Gold Mountain property, covers 2,871 hectares.

The Punch Bowl property, approximately 90 km NW of the Gold Mountain Property, covers 3,079 hectares, and surrounds the historic Punch Bowl showing.

For more information, please visit the company’s website at www.PegasusResourcesInc.com, contact Charles Desjardins, President and CEO, at 604-369-8973, or by email at info@PegasusResourcesInc.com.

I’m Megan Edwards for Investmentpitch Media