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

Pegasus Resources ( (TSE:PEGA) ) has provided an announcement.

Aero Energy, Urano Energy and Pegasus Resources have agreed to combine under the new name Manhattan Uranium Discovery Corp., with Aero acquiring all outstanding shares of Urano and Pegasus through separate plans of arrangement. The merged company will have Urano shareholders owning about 49.3%, Aero shareholders 44.2% and Pegasus shareholders 6.5%, creating a larger pure-play uranium platform listed on the TSX Venture Exchange.

The transaction is structured via share exchanges that value Urano at roughly $0.094 per share and Pegasus at $0.063 per share, based on recent trading averages. Management says the combination will consolidate a broad portfolio of uranium assets, deepen technical and capital-markets expertise, and improve access to capital, scale and project prioritization amid growing emphasis on uranium’s role in North American energy security.

More about Pegasus Resources

Aero Energy, Urano Energy and Pegasus Resources are Canadian-listed uranium exploration and development companies focused on North American assets. Their portfolios include 15 past-producing uranium mines and 25 largely underexplored properties across 25,099 acres in the U.S., along with high-grade exploration potential in Canada’s Athabasca Basin, positioning them in the nuclear fuel supply chain.

Average Trading Volume: 97,869

Technical Sentiment Signal: Sell

Current Market Cap: C$2.39M

For an in-depth examination of PEGA stock, go to TipRanks’ Overview page.