Pegasus Resources Inc. (TSX-V:PEGA) announced that it intends to complete a non-brokered private placement for up to C$1.5 million.
The net proceeds of the offering will be used for exploration of the Energy Sands and Jupiter uranium projects in Utah and for general and working capital purposes, the company said.
The offering will consist of up to 9,375,000 units of the company at C$0.16 each.
Each unit will consist of a share and one-half of a share purchase warrant, with each warrant entitling the holder to acquire a share at C$0.20 for two years from the offering’s closing date.
Closing of the offering is expected to occur on or about August 21, 2024.