Aero Energy, Urano Energy, and Pegasus Resources Complete $10.5 Million Private Placement

Vancouver, British Columbia — April 1, 2026 — Leads & Copy — Aero Energy Limited, Urano Energy Corp., and Pegasus Resources Inc. have closed a non-brokered private placement of 26,249,999 subscription receipts of Aero at $0.40 each, raising gross proceeds of $10,500,000. The Subscription Receipt Financing is connected to Aero's definitive arrangement agreement with Urano and Pegasus to combine the three companies via court-approved plan of arrangements.

The combined company is expected to operate under the name “Manhattan Uranium Discovery Corp.” and trade under the symbol “MANU”.

Each Subscription Receipt will convert into one unit of Aero, comprised of one common share of Aero and one share purchase warrant of Aero. Each warrant allows the holder to acquire one share at $0.60 until March 31, 2028.

Aero incurred finder’s fees of $415,498 and will issue 1,038,745 finder’s warrants of Aero. Each finder’s warrant is exercisable to acquire one share at $0.40 until March 31, 2028. Eventus Capital Corp. and PowerOne Capital Markets Limited acted as finders in connection with a portion of the Subscription Receipt Financing.

The net proceeds from the Subscription Receipt Financing will be used to advance the company’s uranium project portfolio in North America, repay Aero’s secured bridge loan of up to $1,000,000 to Urano, cover the costs of completing the transactions, and for working capital and general corporate purposes.

The gross proceeds were deposited with an escrow agent and will be released to the combined company upon satisfaction of certain escrow release conditions no later than the 90th day following the closing date. If the escrow release conditions are not met by the deadline, or if Urano advises that it does not intend to proceed with the Urano Transaction, the subscription receipts will be cancelled, and holders will receive an amount equal to the issue price of the subscription receipts, plus a pro rata share of any interest earned thereon. Aero is responsible for covering any shortfall if the Escrowed Funds are not sufficient.

Aero Energy Limited has established a portfolio of uranium assets in North America, including the Strike and Murmac projects in Saskatchewan’s Athabasca Basin, the Apex Uranium Property in Nevada, and the Huber Hills Property in Nevada. Urano is a mineral exploration company holding uranium projects in the Colorado Plateau. Pegasus Resources Inc. is focused on advancing high-potential projects in the United States, with its flagship asset being the Jupiter Uranium Project in Utah.

"Galen McNamara," Chief Executive Officer of Aero Energy Limited, "Jason Bagg", Chief Executive Officer, Urano Energy Corp., and "Christian Timmins", Chief Executive Officer, Pegasus Resources Inc. provided statements on behalf of their respective boards of directors.

Further information on Aero Energy Limited can be found on the Company’s website and at www.sedarplus.ca, or by contacting the Company by email at info@aeroenergy.ca.

This news release does not constitute an offer to sell or a solicitation of an offer to buy any securities in the United States. The securities have not been and will not be registered under the U.S. Securities Act of 1933.

Source: Aero Energy Limited