The TSX Venture Exchange has accepted for filing documentation with respect to the arm's-length acquisition by Manhattan Uranium Discovery Corp. (formerly Aero Energy Ltd.) of Urano Energy Corp. Pursuant to special resolutions passed by the shareholders of Urano on April 29, 2026, Urano and Manhattan have completed a plan of arrangement under Section 288 of the Business Corporations Act (British Columbia). The Urano arrangement was completed on May 7, 2026, and has resulted in Manhattan acquiring all of the issued and outstanding common shares of Urano for consideration consisting of 0.2 common share of Manhattan for every common share of Urano acquired.

Outstanding warrants of Urano will become exercisable for shares of Manhattan. Outstanding options of Urano will be exchanged for replacement options of Manhattan. The number of shares and the exercise prices for the warrants and options will be adjusted to reflect the 0.2 exchange ratio.

Plan of arrangement

Pursuant to special resolutions passed by the shareholders of Pegasus Resources Inc. on April 29, 2026, Pegasus and Manhattan have completed a plan of arrangement under Section 288 of the Business Corporations Act (British Columbia). The Pegasus arrangement has been completed on May 7, 2026, and has resulted in Manhattan acquiring all of the issued and outstanding common shares of Pegasus for consideration consisting of 0.133 common share of Manhattan for every common share of Pegasus acquired.

Outstanding warrants of Pegasus will become exercisable for shares of Manhattan. Outstanding options of Pegasus will be exchanged for replacement options of Manhattan. The number of shares and the exercise prices for the warrants and options will be adjusted to reflect the 0.133 exchange ratio.

Advisory fee

In connection with the Urano arrangement and the Pegasus arrangement, Manhattan paid advisory fees to an arm's-length financial adviser, payable partly in cash and partly in units of Manhattan at a price of 40 cents per unit. The advisory fee payments resulted in Manhattan issuing an aggregate of 250,000 advisory units on completion of the arrangements. Each advisory unit comprises one share of Manhattan and one Manhattan share purchase warrant, with each warrant exercisable to acquire one Manhattan share at an exercise price of 60 cents for a period of 24 months.

Private placement -- non-brokered

Financing type:  non-brokered private placement

Gross proceeds:  $10,499,999.60

Offering:  26,249,999 listed shares with 26,249,999 warrants attached

Offering price:  40 cents per listed share

Warrant exercise terms:  60 cents per listed share for a two-year period

Commissions in securities:  1,038,745 finders' warrants

Commission terms:  Each non-transferable warrant is exercisable at 40 cents for a two-year period.

Disclosure:  Refer to the company's news releases dated March 2, 2026, March 4, 2026, and May 7, 2026.

Postprivate placement and postarrangement capitalization of Manhattan

Capitalization:  unlimited common shares with no par value, of which 110,080,518 common shares are issued and outstanding

Transfer agent:  Computershare Investor Services Inc.

Trading symbol:  MANU (unchanged)

Cusip No.:  562913 10 3 (unchanged)

For additional information, please refer to the information circular of Pegasus dated March 27, 2026, news releases of Pegasus dated March 2, 2026, March 31, 2026, May 4, 2026, and May 7, 2026, and news releases of Manhattan dated March 2, 2026, March 4, 2026, March 31, 2026, May 4, 2026, and May 7, 2026, available on Pegasus's and Manhattan's respective profiles on SEDAR+.

Delisting

As a result of the completion of the Pegasus arrangement, effective at the close of business on Monday, May 11, 2026, the common shares of Pegasus will be delisted from the TSX Venture Exchange.