POG.A Pegasus Oil And Gas Com Npv Class A

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE
UNITED STATES


Pegasus Oil & Gas Inc. (TSX VENTURE:POG.A) (TSX VENTURE:POG.B) ("Pegasus" or the
"Company") is pleased to announce today that it has entered into an agreement
with a syndicate of underwriters led by FirstEnergy Capital Corp. and including
Blackmont Capital Inc., and GMP Securities L.P. (collectively the
"Underwriters"), pursuant to which the Underwriters have agreed to purchase for
resale on a bought deal basis, 6,850,000 flow-through Class A shares of Pegasus
at a price of $2.20 per Class A share for aggregate gross proceeds of
$15,070,000. All sales will be made on a private placement basis pursuant to
exemptions from the prospectus requirements of applicable securities laws.


This equity issue is subject to regulatory approval and closing is expected to
take place on or about February 28, 2008. 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 presently has 27.64
million Class A shares and 1.01 million Class B shares outstanding.


This news release shall not constitute an offer to sell or the solicitation of
an offer to buy securities in any jurisdiction. The common shares offered will
not be and have not been registered under the United States Securities Act of
1933 and may not be offered or sold in the United States absent registration or
an applicable exemption from the registration requirement.

Pegasus Oil And Gas Com Npv Class A (TSXV:POG.A)
Historical Stock Chart
From May 2024 to Jun 2024

Pegasus Oil And Gas Com Npv Class A (TSXV:POG.A)
Historical Stock Chart
From Jun 2023 to Jun 2024