Urano and Pegasus Receive Shareholder and Court Approval for Acquisitions by Aero; Name Change to Manhattan Uranium Discovery Corp. Effective May 7, 2026

Aero Energy Limited has secured shareholder and court approval for its acquisition of Urano Energy Corp. and Pegasus Resources Inc., with the transactions anticipated to close on or about May 7, 2026. The acquisition received overwhelming support from shareholders, with 99.91% of Urano's shareholders and 98.21% of Pegasus's shareholders voting in favor of the respective arrangements during special meetings held on April 29, 2026. The Supreme Court of British Columbia granted final approval for the acquisitions on May 4, 2026.

Aero Energy, listed on the TSX Venture Exchange, has been actively expanding its footprint in the uranium sector following its merger with Kraken Energy Corp. This strategic move has positioned Aero as a significant player in North America's uranium exploration landscape, particularly with its extensive land package in Saskatchewan's Athabasca Basin. The company aims to leverage its combined assets to meet the increasing global demand for uranium, driven by a resurgence in interest in nuclear energy as a clean power source.

Urano Energy Corp. is recognized for its advanced uranium projects located in the historically rich Colorado Plateau, which has a legacy of uranium and vanadium mining. With the growing emphasis on domestic uranium production in the United States, Urano is strategically positioned to advance its key projects through the permitting process. The acquisition by Aero is expected to enhance Urano's operational capabilities and market reach, facilitating the development of its resource base.

Pegasus Resources Inc., also focused on uranium exploration, boasts the Jupiter Uranium Project in Utah as its flagship asset. This drill-ready property is poised for resource expansion, aligning with the increasing demand for nuclear energy. The acquisition by Aero is anticipated to provide Pegasus with the necessary resources and expertise to further develop its portfolio and contribute to strengthening domestic uranium supply.

The successful completion of these acquisitions reflects broader trends in the uranium sector, where consolidation is becoming more prevalent as companies seek to optimize their resources and capitalize on the growing market for nuclear energy. As global energy demands evolve, particularly in the context of sustainability and energy security, the strategic alignment of Aero, Urano, and Pegasus is expected to enhance their competitive positioning. The anticipated name change of Aero Energy to Manhattan Uranium Discovery Corp. further signifies its commitment to establishing a strong identity within the uranium sector, aligning with its growth strategy.