Pegasus Mercantile signs LOI to acquire Omega Gold

Executive Summary

• Pegasus Mercantile Inc. has signed a non‑binding LOI to acquire Omega Gold Corp., which would make OGC a wholly‑owned subsidiary.
• The deal includes OGC’s 61 % interest in Formación Yura Exploración SAC and its 3,225‑ha Rio Bravo gold claims in Peru, plus an additional ~2,255 ha of contiguous concessions.
• A 30‑day due‑diligence period is set (deadline Feb. 28 2026) with the transaction subject to CSE and regulatory approvals.

Key Details

• Transaction Structure: Non‑binding LOI; definitive agreement to be signed after a 30‑day due‑diligence window, pending CSE and other regulatory approvals.
• Target Assets:
• OGC’s 61 % controlling interest in Formación Yura Exploración SAC.
• Rio Bravo gold claims (3,225 ha) near Arequipa, Peru, with approved drilling permits.
• Additional mineral concessions (~2,255 ha) contiguous to Rio Bravo.
• Geological Highlights: Claims host a disseminated orogenic gold system with sericite‑illite alteration, quartz vein stockworks, and chalcedony zones; located on the Incapuquio fault, ~25 km from the Cerro Verde copper mine.
• Infrastructure: Property accessible via paved/gravel roads; proximity to a 220‑kV hydroelectric transmission line.
• Future Work: OGC plans to commence ~3,000 m of exploration drilling shortly after definitive agreement execution. Pegasus will fund the project and update the NI 43‑101 technical report.
• Strategic Rationale: Expands Pegasus’s portfolio into gold exploration, diversifying beyond its existing focus on wellness, psychedelics, mycology, hemp, CBD, and healthcare‑related targets.

Notable Quotes

“This is an exciting opportunity for our shareholders and new investors,” said Meris Kott, CEO of Pegasus Mercantile Inc.

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