Pegasus Mercantile FFCTO Status Update

Tuesday, February 10, 2026 2:10 PM PST

(via TheNewswire)

Vancouver, BC – February 10, 2026 – TheNewswire - Pegasus Mercantile Inc. (CSE: LOAN) (Frankfurt: U040) (OTC: XTCYF) (“Pegasus” or the “Company”) today provides a default status update further to the Company's announcement on February 4 of its FFCTO pertaining to the delay of the filing of its annual financial statements,

As previously reported, the British Columbia Securities Commission ("BCSC") issued a Failure-to-File Cease Trade Order ("FFCTO") dated February 4, 2026, due to the Company not being able to file its annual financial statements and management's discussion and analysis ("MD&A") for the year ended September 30, 2025 on SEDAR by January 28, 2026. Further, as a result of the FFCTO, the Canadian Securities Exchange suspended trading in the Company's shares. The FFCTO will remain in place until such time as the Annual Financial Filings and all continuous disclosure requirements have been satisfied and the Company receives an order from the BCSC revoking the FFCTO.

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 to release the Annual Financial Filings. The Company intends to continue to issue weekly default status reports. The Company confirms that there is no other material information relating to its affairs that has not been generally disclosed. Management is reviewing due diligence materials for letters of intent already in the pipeline.

About Pegasus Mercantile:

Pegasus is a prospect generator that provides high growth companies with financial, operational, and management assistance. The Company has expanded and is entering a new phase of diversification. The focus of the Company has been on global wellness, psychedelics, mycology, hemp and CBD, healthcare-related target companies and their clinical studies and trials.

For further information visit website: www.pegasusmercantile.com

Contact Meris Kott CEO (561) 212-3323 [email protected]

Further information about the Company is available on www.SEDARplus.com under the Company’s profile.

Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.

Forward-Looking Statements

Certain statements contained in this press release may constitute forward-looking information. These statements relate to future events or future performance. The use of any of the words "could", "intend", "expect", "believe", "will", "projected", "estimated", "proposed" and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on the Company's current belief or assumptions as to the outcome and timing of such future events. In particular, this release contains forward-looking information relating to the,Company’s ability to cure its filing default and the expected timing of the revocation of the FFCTO. Such forward-looking information is subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the statements, including the risk that the Company may not cure its default in a timely manner. The forward-looking information contained in this release is made as of the date hereof and the Company is not obligated to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. Because of the risks, uncertainties and assumptions contained herein, investors should not place undue reliance on forward-looking information. The foregoing statements expressly qualify any forward-looking information contained herein.