Pegasus Resources Inc. (TSX-V:PEGA) said it has completed its previously announced non-brokered private placement financings, raising gross proceeds of $659,140 by issuing a combination of flow-through (FT) and non-flow-through company units totaling 3,870,875.
The mineral exploration company said it intends to use the gross proceeds of the FT offering to incur "Canadian exploration expenses" and "flow-through critical mineral mining expenditures" as defined in the Income Tax Act (Canada) and proposed amendments thereto on its Pine Channel property in Saskatchewan’s Athabasca Basin.