(TheNewswire)
V a ncouver,B C - TheNewswire - April 06, 2023 - Pegasus Resources Inc. (TSX-V:PEGA ) ( Frankfurt:OQS2 ) ( OTC:SLTFF) announces that the Company intends to proceed with aconsolidation of the fully paid and issued common shares of theCompany on the basis of one (1) post-consolidation common share foreach ten (10) pre-consolidation common shares issued and outstanding(the “Consolidation”).
The Company currently has 117,343,488 Common Sharesissued and outstanding. Accordingly, once the consolidation iseffective, the Company will have 11,734,348 Shares issued andoutstanding, assuming there are no other changes in the issued capitalof the Company.
The Company intends to also proceed with consolidatingits outstanding options and warrants on a ratio of ten (10) to one(1), with the result that each consolidated option and warrant willentitle the holder to acquire one Share at an exercise price of ten(10) times its original exercise price.
The Consolidation is being proposed in order to providethe Company with increased flexibility to seek additional financingopportunities and is subject to the approval of the TSX VentureExchange. The Company will not change its name or ticker symbol aspart of the Consolidation.
Christian Timmins
President / CEO
Pegasus Resources Inc.
700 – 838 West Hastings Street
Vancouver, BC V6C 0A6
PH: 1-604-369-8973
E: info@pegasusresourcesinc.com
Neither the TSX Venture Exchange nor its RegulationServices Provider (as that term is defined in the policies of the TSXVenture Exchange) accepts responsibility for the adequacy or accuracyof this release.
Forward Looking Statements
Statements included in this announcement, includingstatements concerning the Company’s plans, intentions andexpectations (including the proposed Consolidation), which are nothistorical in nature are intended to be, and are hereby identified as,“forward-looking statements”. Forward-looking statements may beidentified by words including “anticipates”, “believes”,“intends”, “estimates”, “expects” and similar expressions.The Company cautions readers that forward-looking statements,including without limitation those relating to the Company’s futureoperations and business prospects, are subject to certain risks anduncertainties that could cause actual results to differ materiallyfrom those indicated in the forward-looking statements.
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