Aero Energy, Urano Energy and Pegasus Resources Announce Upsize of Financing to $11.5 Million

The most recent news (March 4, 2026) announces an upsize of a previously announced financing to $11.5 million (from $6 million) in connection with a three-way merger between Aero Energy, Urano Energy Corp., and Pegasus Resources Inc. The combined entity will be renamed Manhattan Uranium Discovery Corp. (TSXV: MANU). The financing consists of subscription receipts priced at $0.40, which convert into one share and one warrant (exercisable at $0.60 for two years) upon the closing of the merger, expected in late May 2026.

• Material - Positive: While the merger itself was the "Game Changer," the ability to nearly double the concurrent financing to $11.5M in a volatile sector is a strong signal of institutional/sophisticated investor appetite.
• Strategic Shift: The company is transitioning from a junior explorer focused on the Athabasca Basin (Saskatchewan) to a diversified North American player with 15 past-producing mines in the U.S. (I-70 Project, Uravan Belt).
• De-risking: The $11.5M provides a significant cash cushion to repay the Urano Bridge Loan and fund aggressive drilling in both the U.S. and Canada, moving away from the "hand-to-mouth" existence seen in the October 2025 financials ($102k cash).
• Dilution vs. Scale: The 10:1 share consolidation in late 2025 cleared the way for this $0.40 financing. While dilutive, it creates a vehicle with enough scale to attract larger market participants.

Aero Energy (formerly Angold Resources) has historically focused on the Athabasca Basin. Its flagship has been the Murmac Uranium Project (option to earn 70%), located near Uranium City, Saskatchewan. Following the merger, the flagship will likely shift to a "hub and spoke" model including the Apex Property (Nevada) and the I-70 Uranium Project (U.S.), targeting near-term production potential alongside high-grade Canadian exploration.