CPE Media News (11/12/2018) – Pelangio Exploration Inc. (TSX-V: PX; OTCPK: PGXPF) intends to close a non-brokered private placement of up to 4,500,000 units at a price of $0.15 per unit for gross proceeds of up to $675,000.
The private placement may be closed in one or more tranches and is not subject to receipt of a minimum amount of gross proceeds.
photo credit: Pelangio Exploration
News Release
PELANGIO EXPLORATION ANNOUNCES FINANCING OF UP TO $675,000
THIS NEWS RELEASE IS INTENDED FOR DISTRIBUTION IN CANADA ONLY AND IS NOT INTENDED FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED STATES
TORONTO, Ontario (November 12, 2017) – Pelangio Exploration Inc. (PX:TSX-V; OTC PINK:PGXPF) (“Pelangio” or the “Company”) announces a non-brokered private placement of up to 4,500,000 units of the Company at a price of $0.15 per unit for gross proceeds of up to $675,000 (the “Private Placement”). Each unit consists of one common share of the Company (a “Common Share”) and one Common Share purchase warrant (“Warrant”). Each Warrant entitles the holder to purchase one Common Share at a price of $0.20 for a period of two years from the initial closing date of the Private Placement.
The closing of the Private Placement may occur in one or more tranches, with the initial closing date of the Private Placement expected to occur on or before November 30, 2018, and is not subject to receipt of a minimum amount of gross proceeds. The Company may pay finder’s fees of 8% cash and 8% warrants to purchase Common Shares to certain introducing parties in respect of the Private Placement, subject to compliance with applicable securities legislation and TSX Venture Exchange policies. Closing is subject to receipt of all necessary regulatory approvals. The securities issued pursuant to the Private Placement, will be subject to a four-month and one day hold period in accordance with applicable Canadian securities laws and TSX Venture Exchange policies.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
About Pelangio
Pelangio acquires and explores large land packages in world-class gold belts in Canada and Ghana, West Africa. In Canada, the company is focusing on the 25 km2 Birch Lake Property located in the Red Lake Mining District and the Dalton Property located 1.5 km from the Hollinger mine in Timmins. In Ghana, the Company is focusing on two 100%-owned camp-sized properties: the 100 km2 Manfo Property, the site of seven recent near-surface gold discoveries, and the 264 km2 Obuasi Property, located 4 km on strike and adjacent to AngloGold Ashanti’s prolific high-grade Obuasi Mine. Ghana is an English-speaking, common law jurisdiction that is consistently ranked amongst the most favourable mining jurisdictions in Africa.
For additional information, please visit our website at www.pelangio.com, or contact:
Ingrid Hibbard, President and CEO
Tel: 905-336-3828 / Toll-free: 1-877-746-1632 / Email: info@pelangio.com
