Business
Urano Energy Announces Binding Letter Agreement to Acquire Pegasus Resources Inc.
Urano Energy Announces Binding Letter Agreement to Acquire Pegasus Resources Inc. Canada ...
About this update from Pegasus Resources Inc
[{"type":"text","content":"\n\n\nUrano Energy Announces Binding Letter Agreement to Acquire Pegasus Resources Inc.\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntar{\nTEXT-ALIGN: RIGHT\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n\n\n\n\n\nCanada NewsWire\n\n\nCSE:UEOTCQB:UEXCFDecember 1, 2025www.uranoenergy.com\n/NOT FOR DISTRIBUTION TO US NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES/\nVANCOUVER, BC, Dec. 2, 2025 /CNW/ - Urano Energy Corp., (CSE: UE) (OTCQB: UECXF) (\"Urano\") and Pegasus Resources Inc. (TSXV:PEGA) (\"Pegasus\") announced today that they have entered into a binding letter agreement, negotiated at arm's length and dated December 1, 2025 (the \"Letter Agreement\") in respect of a proposed business combination transaction pursuant to which Urano will acquire all of the issued and outstanding securities of Pegasus (the \"Proposed Transaction\"). \n\n\n\n\n\n\n\nTransaction Highlights\nThis transaction will see the consolidation of Urano's I-70 project (Urano NR October 27, 2025) and Pegasus' two adjoining properties, the Energy Sands and Jupiter projects. The Jupiter and Energy Sands projects cover approximately 3900 acres of unpatented mining claims with historic underground workings, drilling and known uranium mineralization. Of 41 surface and underground samples taken in 2024 by Pegasus, 13 returned uranium values in excess of 1.0% U3O8 with 12 of these samples returning V2O5 values ranging from 0.56 to more than 5.0% (Pegasus NR March 25, 2024). Historical drilling by Atlas Corp. on the Jupiter project has returned several intercepts containing greater than 1.0% U3O8 over a minimum of 2.5 feet within 20 feet of the surface Pegasus NR June 4, 2024). Downdip extensions of the known historic mineralization remain untested. Drill permits have been authorized for both Jupiter and Energy Sands. \nSummary of the Proposed Transaction\nPursuant to the Letter Agreement, Urano will on closing of the Proposed Transaction acquire all of the issued and outstanding Pegasus common shares (the \"Pegasus Shares\") from the Pegasus shareholders in exchange for units of Urano (e...