Manhattan Uranium Discovery Corp. Completes Transformational Acquisitions of Urano Energy and Pegasus Resources

Manhattan Uranium Discovery Corp. has successfully closed the acquisitions of Urano Energy Corp. and Pegasus Resources Inc. via court-approved plans of arrangement. The combined entity consolidates 15 past-producing uranium mines, 25 underexplored U.S. properties spanning 25,099 acres in the Colorado Plateau, plus exploration potential in Canada's Athabasca Basin. Under the terms, Urano shareholders received 0.2 Manhattan shares per Urano share (~40.4M shares issued), and Pegasus shareholders received 0.133 Manhattan shares per Pegasus share (~5.3M shares issued). A concurrent subscription receipt financing converted 26.25M units into shares plus warrants (strike $0.60, expiry March 31, 2028). The company will continue trading as MANU on the TSX-V, with a refreshed board led by Chairman William Sheriff and CEO Galen McNamara. A lingering Nevada civil action over historical claims has been dismissed without cost. Intercompany bridge loans (Urano $1M, Pegasus $80k) remain in place.

The closing formalizes a previously announced business combination; therefore, the market is reacting to the completion, not to new strategic substance. The stock price was unchanged at $0.39 on the announcement date, and it has been drifting in a $0.34–$0.45 range since late February 2026 following a broader decline from $0.55. Because no fresh drill results, production decisions, or new major strategic investments accompany the release, the news is a procedural milestone rather than a market-moving event. The creation of a scaled uranium vehicle is positive, but it was fully anticipated. No material financial details (total pro‑forma market cap, cash position, or exploration budget) are disclosed, preventing an immediate re‑rating. Consequently, the news is incrementally positive and expected.

Manhattan Uranium Discovery Corp. is a TSX‑V listed uranium exploration and development company. Post‑merger, its flagship asset is an extensive land position in the Colorado Plateau (25,099 acres across 25 properties) that includes 15 past‑producing uranium mines. The portfolio offers historical resource bases and underexplored potential. Additionally, the company holds high‑grade exploration targets in the Athabasca Basin, Saskatchewan. The strategy is to advance the most compelling catalysts by focusing capital on permitted or near‑permitted past producers while maintaining exploration upside.