Pegasus Resources Board Changes

By Globe Newswire10 days ago

VANCOUVER, British Columbia, May 04, 2021 (GLOBE NEWSWIRE) -- Pegasus Resources Inc. (TSXV:PEGA, Frankfurt OQS2, OTC/Pink Sheet symbol SLTFF)) (the Company or Pegasus) is pleased to announce that Mike England has been appointed a director of the Company, replacing Glen MacDonald, who has resigned as a director of the Company. The Company wishes to thank Mr. MacDonald for his services to the Company.

Mr. England has been involved in the public markets since 1983, beginning his career working at the Vancouver Stock Exchange as a floor trader. Since 1995, Mr. England has been directly involved with public companies in various roles, including investor relations, directorships and senior officer positions. To date, Mr. England has been directly responsible for raising in excess of $80-million for mineral exploration and acquisitions.

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The Company further announces that it has arranged to settle outstanding indebtedness with a creditor (the Shares for Debt Settlement) through the issuance of common shares of the Company, subject to approval of the TSX Venture Exchange. Pursuant to the Shares for Debt Settlement, the Company has agreed to issue a total of 400,000 common shares of Pegasus at a deemed price of $0.05 per share in satisfaction of an outstanding amount of $20,000. The common shares to be issued pursuant to the Shares for Debt Settlement will be subject to a four month hold from the applicable date of issuance.

About Pegasus Resources Inc.

Pegasus Resources Inc. is a diversified Junior Canadian Mineral Exploration Company with a focus on zinc and base metal properties in North America. The Company is also actively pursuing the right opportunity in other resources to enhance shareholder value. For additional information please visit the Company at www.pegasusresourcesinc.com or contact Charles Desjardins at charles@pegasusresourcesinc.com.

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