Pelangio Closes Final Tranche of $750,000 Private Placement
Pelangio Exploration Inc.
Pelangio Exploration Inc. News Release – JANUARY 18, 2019 1
82 Richmond Street East,
Toronto, ON M5C 1P1
Tel: 905-336-3828
Fax: 905-336-3899
NEWS RELEASE
PELANGIO CLOSES FINAL TRANCHE OF $750,000 PRIVATE PLACEMENT
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 18, 2019) – Pelangio Exploration Inc. (PX:TSX-V; OTC PINK:PGXPF) (“Pelangio” or the
“Company”) is pleased to announce that it has closed the final tranche of its non-brokered private placement
announced November 12, 2018, December 18, 2018, and January 11, 2019 (the "Private Placement").
In this final tranche, the Company raised a total of $270,000 from the issuance of 1,800,000 units (the "Units") at a
price of $0.15 per Unit. 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 Company paid finder’s fees to Zuri-Invest AG, Leede Jones Gable Inc., and PI Financial, each an arm’s length
finder, consisting in the aggregate of $15,600 in cash and 104,000 non-transferable warrants (“Finder Warrants”).
Each Finder 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.
All securities issued in this tranche of the Private Placement are subject to a statutory hold period expiring on May
19, 2019. The Company intends to use the proceeds from the Private Placement for exploration projects and for
working capital purposes.
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 284 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]
Pelangio Exploration Inc. News Release – JANUARY 18, 2019 2
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. 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 place 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.