Pegasus Metals Limited announced that it expects to receive AUD 1.40 million in funding.

Pegasus Metals Limited (ASX:PUN) announced a private placement of 7,000,000 shares at AUD 0.20 per share for gross proceeds of AUD 1,400,000 with institutional and sophisticated investors on March 27, 2012. The shares will be issued on March 30, 2012.