Pelangio Announces Extension of Private Placement Financing
Pelangio Exploration Inc.
Pelangio Exploration Inc. News Release – January 11, 2019 1
82 Richmond Street East,
Toronto, ON M5C 1P1
Tel: 905-336-3828
Fax: 905-336-3899
NEWS RELEASE
PELANGIO ANNOUNCES EXTENSION OF PRIVATE PLACEMENT FINANCING
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 (January 11, 2019) – Pelangio Exploration Inc. (PX:TSX-V; OTC PINK:PGXPF) (“Pelangio” or the
“Company”) announces that further to press releases dated November 12, 2018 and December 18, 2018, its
previously announced private placement (the "Private Placement") of up to $675,000 is expected to be
oversubscribed. To facilitate the additional demand, the Company has received approval from the TSX Venture
Exchange for an extension of the duration of the Private Placement to February 11, 2019 and to increase the size of
the Private Placement to up to $750,000.
Closing of the offering is subject to certain conditions including, but not limited to, the receipt of all necessary
corporate and regulatory approvals, including the approval of the TSX Venture Exchange.
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.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale
of the securities in any jurisdictions in which such offer, solicitation or sale would be unlawful. Any offering made will
be pursuant to available prospectus exemptions and restricted to persons to whom the securities may be sold in
accordance with the laws of such jurisdictions, and by persons permitted to sell the securities in accordance with the
laws of such jurisdictions.
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: [email protected]
Forward Looking Statements
Certain statements herein may contain forward-looking statements and forward-looking information within the meaning of
applicable securities laws. Forward-looking statements or information appear in a number of places and can be identified by the
use of words such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”,
“intends”, “anticipates” or “does not anticipate” or “believes” or variations of such words and phrases or statements that certain
actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved. Forward-looking statements
and information include statements regarding the Private Placement generally, the proposed use of proceeds and the Company’s
exploration plans. With respect to forward-looking statements and information contained herein, we have made numerous
assumptions, including assumptions about our ability to close additional tranches of the Private Placement in a timely manner, if
Pelangio Exploration Inc. News Release – January 11, 2019 2
at all, and the state of the equity markets. Such forward-looking statements and information are subject to risks, uncertainties
and other factors which may cause the Company’s actual results, performance or achievements, or industry results, to be
materially different from any future results, performance or achievements expressed or implied by such forward-looking statement
or information. Such risks include the ability of the Company to meet the conditions of closing, our ability to conduct our
exploration programs as planned, changes in equity markets, share price volatility, volatility of global and local economic climate,
gold price volatility, political developments in Ghana, increases in costs, exchange rate fluctuations, speculative nature of gold
exploration and other risks involved in the gold exploration industry. See the Company’s annual and quarterly financial statements
and management’s discussion and analysis for additional information on risks and uncertainties relating to the forward-looking
statement and information. There can be no assurance that a forward-looking statement or information referenced herein will
prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements or
information. Also, many of the factors are beyond the control of the Company. Accordingly, readers should not pl ace undue
reliance on forward-looking statements or information. We undertake no obligation to reissue or update any forward-looking
statements or information except as required by law. All forward-looking statements and information herein are qualified by this
cautionary statement.