- Pegasus Resources (OTC:SLTFF) has withdrawn its shares-for-debt settlement application.
- The withdrawal follows TSX Venture Exchange's denial of approval.
- Approximately $140,000 of debt will need to be resolved through conventional means.
Pegasus Resources Inc. (OTC:SLTFF) recently announced the withdrawal of its shares-for-debt settlement application. This proposal aimed to convert around $140,000 of outstanding debt into common shares. However, the TSX Venture Exchange denied approval, citing a consistent policy position regarding such transactions.
The settlement was initially disclosed on June 11, 2025. Despite the debt being deemed bona fide, Pegasus Resources will now need to address this obligation through conventional avenues, following guidance from the Exchange.
As of now, Pegasus Resources is seeking alternative methods to manage its outstanding debt while continuing to focus on its core business activities and asset developments, including its Jupiter Uranium Project in Utah.
