Vancouver February 26, 2025 – Pegasus Mercantile Inc. (CSE: LOAN) (Frankfurt: TT5) (OTC: XTCYF) (“the “Company”) today provides a bi-weekly default status update further to the Company’s press release dated January 29, 2025 (the “Announcement”) concerning the delay of the filing of its annual financial statements in respect of its year ended September 30, 2024, its management discussion and analysis relating to its annual financial statements, and the CEO and CFO certifications (collectively, the “Required Documents”), beyond the prescribed deadline of January 28, 2025.
As previously announced, the Company applied to the applicable Canadian securities’ regulatory authorities for a voluntary management cease trade order (“MCTO”). The Company was granted the MCTO by the British Columbia Securities Commission.
The MCTO will stay in effect until the Required Documents are filed and the Company intends to satisfy the provisions of the alternative information guidelines in accordance with National Policy 12-203 – Management Cease Trade Orders (“NP 12-203”) by issuing bi-weekly default status reports in the form of news releases until the situation is satisfactorily rectified.The Company confirms that since the date of the Announcement, (a) other than as described herein, there have been no changes to the information contained in the Announcement that would reasonably be expected to be material to shareholders,(b) there have been no failure by the Company in fulfilling its stated intentions with respect to satisfying the provisions of the alternative information guidelines as set out in NP 12-203, (c) there has not been any other subsequent specified default by the Company following the Announcement under NP 12-203, and (d) there is no other material information concerning the affairs of the Company that has not been generally disclosed.
The Company’s management, together with its audit committee, has been working diligently with its auditor to provide all necessary information and complete the Required Documents. The Company confirms that it will continue to satisfy the provisions of the alternative information guidelines under NP 12-203 by issuing bi-weekly default status reports in the form of news releases for so long as it remains delayed in filing the Required Documents.
About Pegasus Mercantile Inc.:
Pegasus is a prospect generator that provides high growth companies with technology, financial, operational, and management assistance in the fast growing market for global wellness products and novel consumer goods and services.