Aero, Urano and Pegasus to Merge into Manhattan Uranium Discovery Corp.

C2C Gold ( (TSE:UE) ) has shared an announcement.

Aero Energy, Urano Energy and Pegasus Resources have agreed to merge their businesses under the new name Manhattan Uranium Discovery Corp., with the stock expected to trade under the symbol MANU. The all-share transactions will see Aero acquire all outstanding shares of Urano and Pegasus via separate plans of arrangement under British Columbia corporate law, with Urano and Pegasus shareholders receiving Aero shares at fixed exchange ratios.

On completion, Urano shareholders will own about 49.3% of the combined company, Aero shareholders 44.2% and Pegasus shareholders 6.5%, implying values of $0.094 per Urano share and $0.063 per Pegasus share based on recent trading averages. The deal is structured so that each transaction can close independently, creating a consolidated uranium explorer and developer with expanded scale, a larger historical resource base and a stronger platform to attract capital and pursue growth amid rising focus on North American uranium supply and energy security.

The companies say the combination will integrate complementary technical, operational and capital markets teams, enabling sharper project prioritization and more disciplined capital allocation across the enlarged portfolio. By uniting multiple past-producing assets and Athabasca Basin upside under a single vehicle, management expects improved visibility in the uranium sector and a more efficient path to value creation for shareholders, aligned with supportive uranium market fundamentals and increased emphasis on domestic fuel supply chains.

More about C2C Gold

Aero Energy, Urano Energy and Pegasus Resources are Canadian-listed uranium exploration and development companies focused on North American projects. Their combined asset base includes 15 past-producing uranium mines across 25 largely underexplored U.S. properties totaling 25,099 acres, as well as high-grade exploration potential in Canada’s Athabasca Basin. Management teams bring experience from established sector players including EnCore Energy, Union Carbide, General Atomics, NexGen Energy and Alpha Minerals, positioning the new entity as a pure-play uranium platform targeting growing demand tied to energy security.

Average Trading Volume: 165,020

Technical Sentiment Signal: Sell

Current Market Cap: C$17.38M

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