Pelangio Exploration Inc.
Pelangio Exploration Inc.
Pelangio Exploration Inc. News Release – December 18, 2017 1
82 Richmond Street East, Toronto, ON M5C 1P1 Tel: 905-336-3828 Fax: 905-336-3899
NEWS RELEASE
PELANGIO EXPLORATION RAISES $525,000 UNDER 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 (December 18, 2017) – Pelangio Exploration Inc. (PX:TSX-V; OTC PINK:PGXPF) (“Pelangio”
or the “Company”) is pleased to announce the closing of two individual tranches of its non-brokered private placement
of up to $1.2 million announced on December 6, 2017 (“Private Placement”). The Company raised a total of $525,000
from the issuance of 10,500,000 units (the “Units”) at a price of $0.05 per Unit. The Company is pleased to announce
that it is extending the time to complete additional tranches of the Private Placement. Any and all additional closings of
the Private Placement will take place no later than January 22, 2018.
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 $0.07 until
December 15, 2020.
The table below provides pertinent information about each of the two closings:
Closing Date Amount ($) Shares Issued Warrants Issued Finders Fee
Cash ($) Warrants
December 15, 2017 $275,000 5,500,000 5,500,000 $22,000 440,000
December 18, 2017 $250,000 5,000,000 5,000,000 $20,000 400,000
TOTAL $525,000 10,500,000 10,500,000 $42,000 840,000
The Company paid finder’s fees to Zuri-Invest AG totaling an aggregate of $42,000 in cash and 840,000 non-
transferable finder’s warrants, with each such warrant entitling the holder thereof to acquire one Common Share at a
price of $0.05 per share until December 15, 2020. All finders fees are subject to compliance with applicable securities
legislation and TSX Venture Exchange policies. All securities issued in these two closings of the Private Placement are
subject to statutory four month hold periods expiring on April 16, 2018 and April 19, 2018, respectively.
The Company intends to use the proceeds from the Private Placement to continue the planned $2,000,000 multi-phase
exploration program and for working capital purposes, all as further described in the Company’s news release dated
October 11, 2017.
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 successfully acquires and explores camp -sized land packages in world-class gold belts. The Company
primarily operates in Ghana, West Africa, an English-speaking, common law jurisdiction that is consistently ranked
amongst the most favourable mining jurisdictions in Africa. The Company is exploring three 100%-owned camp-sized
properties: the 100 km2 Manfo Property, the site of seven recent near-surface gold discoveries, the 264 km2 Obuasi
Property, located 4 km on strike and adjacent to AngloGold Ashanti’s prolific high -grade Obuasi Mine and the early-
stage 159 km2 Akroma Properties, which includes the Dormaa and Wamfie concessions.
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 – December 18, 2017 2
82 Richmond Street East, Toronto, ON M5C 1P1 Tel: 905-336-3828 Fax: 905-336-3899
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 amount that may be raised under the Private Placement, the proposed use of proceeds and the
Company’s exploration plans and drill program. With respect to forward-looking statements and information contained
herein, we have made numerous assumptions, including assumptions about our ability to obtain the approval of the
TSX Venture Exchange and to raise further proceeds under the Private Placement and the timing thereof, the
anticipated closing thereof, the state of the equity markets, and our ability to conduct our exploration prog rams as
planned. 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, 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, unforeseen circumstances that would cause delays in executing our
planned exploration program, labour shortages, 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 re lating 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 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.