Pegasus Closes Bought-Deal Private Placement Financing

Pegasus Oil & Gas Inc. has closed its previously announced bought deal private placement financing of 6.85 million flow-through Class A shares at an issue price of $2.05 per share. The offering, led by FirstEnergy Capital Corp. with a syndicate including Blackmont Capital Inc. and GMP Securities L.P., resulted in aggregate gross proceeds of $14,042,500.

The shares will be subject to a four-month hold period. Proceeds from this offering will be used to finance the Company's ongoing exploration activities.

Pegasus' Class A and Class B shares trade on the TSX Venture Exchange under the symbols, "POG.A" and "POG.B" respectively. The Company has 34,485,000 Class A shares and 1,012,000 Class B shares outstanding after the closing of the financing.


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