Pegasus Resources Secures TSXV Approval for Icefield Property Sale

Pegasus Resources Inc. has received conditional approval from the TSX Venture Exchange for the strategic sale of its non-core Icefield Property in British Columbia to Ashley Gold Corp. This move aligns with Pegasus' focus on leveraging legacy assets while advancing its uranium portfolio in the U.S.

The agreement entails Pegasus receiving 8,000,000 Ashley shares, with 6,000,000 shares issued at the signing and 2,000,000 post-drill permits issuance. Pegasus gains a board seat at Ashley and retains rights to participate in future financings, ensuring at least a 10% equity stake.

Ashley will also assume all royalty obligations linked to the Icefield Property. Completion of the deal awaits final TSXV approval. The transaction reflects Pegasus' broader strategy to monetize non-core assets, betting on rising gold prices and potential shareholder gains.