Pelangio Exploration Announces 5SD Shareholder Approval of Amalgamation with 5SD Capital
Pelangio Exploration Announces 5SD Shareholder
Approval of Amalgamation with 5SD Capital
Toronto, Ontario--(Newsfile Corp. - November 28, 2018) -
Pelangio
Exploration Inc. (
TSXV:
PX) (OTC Pink: PGXPF)
("
Pelangio
" or the "Company")
is pleased to announce that, further to Pelangio's news release of October 29, 2018, at the
special meeting of shareholders (the "
Meeting
") of 2522962 Ontario Inc. ("
5SD Capital
")
held earlier today, holders of common
shares of 5SD Capital approved the amalgamation (the "
Amalgamation
") of 5SD Capital and a wholly-owned subsidiary of
Pelangio.
Pelangio intends to acquire 5SD through the amalgamation with Pelangio's subsidiary. It is expected that the Amalgamation will
be completed on or before December 7, 2018.
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:
Forward Looking Statements
Certain statements contained in this news release constitute forward-looking information within the meaning of applicable
securities laws. Forward-looking information can be generally identified by the use of words such as "anticipate", "continue",
"estimate", "expect", "expected", "intend", "may", "will", "project", "plan", "should", "believe" and similar expressions. In
particular, this news release contains forward-looking information concerning the anticipated timing of the completion of the
Amalgamation.
Forward-looking statements are based upon the opinions and expectations of management of
Pelangio
and
5SD Capital
as
at the effective date of such statements. Although
Pelangio
and
5SD Capital
believe the expectations reflected in such
forward-looking statements are based upon reasonable assumptions, it can give no assurance that those expectations will
prove to have been correct. Forward-looking statements are subject to certain risks and uncertainties that could cause actual
events or outcomes to differ materially from those anticipated or implied by such forward-looking statements. Readers should
not place undue reliance upon the forward-looking statements contained in this news release and such forward-looking
statements should not be interpreted or regarded as guarantees of future outcomes. The forward-looking statements
contained in this news release are made as of the date hereof neither
Pelangio
or
5SD Capital
undertake any obligation to
update or to revise any of the included forward-looking statements, except as required by applicable securities laws in force in
Canada. The forward-looking statements contained in this news release are expressly qualified by this cautionary statement.
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.