Business
Pegasus Resources Receives TSXV Conditional Approval for Strategic Sale of Icefield Property to Ashley Gold
VANCOUVER, BC / ACCESS Newswire / April 17, 2025 / Pegasus Resources Inc. (TSXV:PEGA)(Frankf...
About this update from Pegasus Resources Inc
[{"type":"text","content":"Pegasus Resources Receives TSXV Conditional Approval for Strategic Sale of Icefield Property to Ashley GoldVANCOUVER, BC / ACCESS Newswire / April 17, 2025 / Pegasus Resources Inc. (TSXV:PEGA)(Frankfurt:0QS0)(OTC PINK Sheet symbol:SLTFF) (the \"Company\" or \"Pegasus\") is pleased to announce that the TSX Venture Exchange (\"TSXV\")) has conditionally approved the purchase and sale agreement (the \"Agreement\") with Ashley Gold Corp. (\"Ashley\") for the Company's sale of its non-core Icefield Property in British Columbia. Initially announced on March 20, 2025, the transaction reflects Pegasus' strategic focus on unlocking value from legacy assets while accelerating development of its U.S.-based uranium portfolio. This strategic transaction underscores Pegasus' commitment to creating shareholder value by monetizing non-core assets while maintaining a strong focus on advancing its flagship uranium projects in the United States.Transaction Terms Summary1. Consideration:Pegasus will receive a total of 8,000,000 common shares (the \"Shares\") of Ashley as follows:6,000,000 Shares upon signing the Agreement (subject to Ashley satisfying CSE filing requirements of which its initial CSE filings and postings have been completed).The Shares will be subject to statutory and contractual hold periods as follows:2,000,000 held for 4 months and a day from issuance;2,000,000 held for 8 months from the day of issuance; and2,000,000 held for 12 months from the day of issuance.2,000,000 additional Shares are to be issued within 60 days of Ashley receiving drill permits for the Icefield Property.2. Governance & Participation Rights:Pegasus will be granted one seat on Ashley's Board of DirectorsPegasus will retain the right to participate in future Ashley financings to maintain a minimum 10% equity stake 3. Royalty Transfer:Ashley will assume all royalty obligations under Pegasus' original agreements with DG Resource Management Ltd.\"Our agreement with Ashley represents a strategic milestone in realizing value from the Icefield Property while keeping Pegasus shareholders exposed to its upside,\" commented Christian Timmins, CEO of Pegasus. \"This aligns with our broader goal of monetizing non-core assets to fund growth in our U.S. uranium portfolio. With gold prices hitting record highs, this transaction offers a timely and potentially lucrativ...