Pelangio Exploration Announces Closing of Private Placement FOR Gross Proceeds of $1,000,000 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
Pelangio Exploration Inc. News Release – March 29th, 2025
82 Richmond Street East, Toronto, ON M5C 1P1 T: 905-336-3828
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NEWS RELEASE
PELANGIO EXPLORATION ANNOUNCES CLOSING OF PRIVATE PLACEMENT FOR GROSS
PROCEEDS OF $1,000,000
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 March 29th, 2025 – Pelangio Exploration Inc. (TSX-V:PX; OTC PINK:PGXPF) (“Pelangio”
or the “Company”) is pleased to announce that it has closed a non -brokered private placement of
25,000,000 units (the "Units") of the Company at a price of $0.04 per Unit for gross proceeds of $1,000,000
(the “Private Placement”).
Each Unit consists of one common share of the Company (a “Share”) and one Common Share purchase
warrant (“Warrant”). Each Warrant entitles the holder to purchase one Common Share for a period of 36
months from the date of the issue of the Warrants at an exercise price of $0.05 per Warrant Share.
The Company intends to use the gross proceeds for working capital, including exploration, metallurgical
work and land maintenance costs, up to 10% for settling non-arm’s length payables, as well as for general
corporate purposes.
No finder’s fees are payable in relation to this private placement. All securities issued in this closing of the
Private Placement are subject to statutory four -month hold periods expiring four months after the date
of issuance. The Private Placement remai ns subject to obtaining final approval of the TSX Venture
Exchange.
The securities offered have not been registered under the U.S. Securities Act of 1933, as amended, and
may not be offered or sold in the United States absent registration or an applicable exemption from the
registration requirements. 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 purs uant to available prosp ectus 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 prospective land packages located in world-class gold belts in Ghana, West
Africa and Canada. In Ghana, the Company is focused on its two 100% owned camp-sized properties: the
Pelangio Exploration Inc. News Release – March 29th, 2025
82 Richmond Street East, Toronto, ON M5C 1P1 T: 905-336-3828
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100 km2 Manfo property, the site of eight 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, as well as the
Dankran property located adjacent to its Obuasi property. See www.pelangio.com for further detail on all
Pelangio’s properties.
Ingrid Hibbard, President and CEO
Tel: 905-336-3828 / 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”, “a nticipates” 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 Offering generally, the proceeds that may
be raised in connection with the Offering, the proposed use of proceeds and the Company’s exploration
plans. With respect to forward -looking statements and information contai ned herein, we have made
numerous assumptions, including assumptions about our ability to close additional tranches of the
Offering in a timely manner, if at all, and the state of the equity markets. Such forward-looking statements
and information are subj ect 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 forwa rd-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 lo cal 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 qua rterly 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.
Neither the 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.