Financings Material +

AERO ENERGY, URANO ENERGY AND PEGASUS RESOURCES ANNOUNCE CLOSING OF $10.5 MILLION SUBSCRIPTION RECEIPT PRIVATE PLACEMENT

By The Northwire Desk — AI Analysis Mar 31, 2026 · 21:04 PEGA · 0.05 Pegasus Resources Inc.

PEGA · Price

Aero Energy, Urano Energy and Pegasus Resources closed a non‑brokered private placement of 26,249,999 subscription receipts at $0.40 each, raising $10.5 million in gross proceeds.
The financing is tied to the court‑approved plan of arrangement that will combine the three companies into Manhattan Uranium Discovery Corp. (ticker “MANU”).
Net proceeds are earmarked for advancing uranium projects in North America, repaying Aero’s $1 million secured bridge loan to Urano, covering transaction costs, and providing working capital/general corporate purposes.

Subscription Receipt Terms: 26,249,999 receipts at $0.40 per receipt → gross proceeds of $10,500,000.
Conversion Mechanics: Upon satisfaction of escrow release conditions, each receipt converts into one Aero “Unit” (1 common share + 1 warrant). Warrants exercisable at $0.60 until 31 Mar 2028.
Finder’s Fees: $415,498 cash fee plus issuance of 1,038,745 finder’s warrants (exercise price $0.40, expiry 31 Mar 2028); both held in escrow pending release conditions.
Escrow Arrangement: All proceeds deposited with an escrow agent; to be released no later than the 90th day after closing, subject to defined escrow release conditions.
Use of Proceeds:
1. Advancement of uranium project portfolio in North America.
2. Repayment of Aero’s secured bridge loan (up to $1 M) to Urano.

Costs associated with completing the Urano and Pegasus transactions.
Working capital and general corporate purposes.
Contingency: If escrow conditions are not met or the Urano transaction is abandoned, all subscription receipts will be cancelled and holders refunded the issue price plus pro‑rated interest; any shortfall becomes Aero’s responsibility.
Transaction Parties: Eventus Capital Corp. and PowerOne Capital Markets Limited acted as finders for a portion of the financing.

(No direct CEO/President quotes were included in the release.)

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