Pegasus Resources Withdraws Debt Settlement Application

Pegasus Resources Inc. has withdrawn its application to settle approximately $140,000 of debt through issuing common shares. This decision comes after the TSX Venture Exchange's review and subsequent advice not to approve the proposed structure. Pegasus initially announced this Shares-for-Debt Settlement plan on June 11, 2025, aiming to satisfy existing payables. However, the Exchange maintained a policy consistent with similar cases, prompting the withdrawal.

The debt in question remains unaddressed, and Pegasus indicated it will handle it through traditional means. This move underscores the challenges Pegasus faces in managing its financial obligations while aligning with regulatory expectations.