Aero, Urano and Pegasus Boost Merger Financing to $11.5 Million

C2C Gold ( (TSE:UE) ) has provided an update.

Aero Energy, Urano Energy and Pegasus Resources have increased their previously announced financing to a total of up to $11.5 million amid strong investor demand. The bulk of the raise will come from up to 26.25 million Aero subscription receipts at $0.40 each, with terms of a separate charity flow-through unit financing unchanged.

The financing supports the trio’s plan to merge via court-approved arrangements into Manhattan Uranium Discovery Corp., expected to trade under the symbol MANU. Net proceeds will fund advancement of the combined uranium project portfolio in North America, repay a bridge loan, cover transaction costs and bolster working capital.

Subscription receipt proceeds will be held in escrow and released only once defined conditions, including completion of the transactions and regulatory approvals, are met. If those conditions are not satisfied by the 90-day deadline or Urano steps away from the deal, investors will be repaid their subscription price plus interest, with Aero liable for any shortfall.

Eventus Capital Corp. and PowerOne Capital Markets have been engaged as finders, underscoring institutional support for the deal structure. The financing is anticipated to close around March 23, 2026, marking a key step toward consolidating these junior uranium explorers into a better-capitalized, single North American uranium vehicle.

More about C2C Gold

Aero Energy Limited is a uranium exploration company focused on North America, controlling a district-scale land package in Saskatchewan’s Athabasca Basin. Its Strike and Murmac projects host numerous shallow drill-ready uranium targets, supported by an award-winning technical team with a track record in major discoveries.

Urano Energy Corp. and Pegasus Resources Inc. are also junior uranium-focused companies, and together with Aero they plan to form Manhattan Uranium Discovery Corp. The combined entity will concentrate on advancing a diversified uranium project portfolio across North America.

The planned merger positions the new company to leverage scale and technical expertise in the uranium sector. This strategy aims to strengthen its competitive footing amid renewed interest in nuclear energy and growing demand for uranium assets.

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