Pelangio Exploration Completes Final Tranche of Private Placement
Pelangio Exploration Inc.
Pelangio Exploration Inc. News Release – August 30, 2017 1
82 Richmond Street East, Toronto, ON M5C 1P1 Tel: 905-336-3828 Fax: 905-336-3899
NEWS RELEASE
PELANGIO EXPLORATION COMPLETES FINAL TRANCHE OF 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 (August 30, 2017) – Pelangio Exploration Inc. (PX:TSX-V; OTC PINK:PGXPF) (“Pelangio”
or the “Company”) is pleased to announce that it has closed the third and final tranche of its non-brokered private
placement originally announced July 6, 2017 and increased in size on August 1, 2017 (the "Private Placement"). This
tranche has raised a further $55,500 for the issuance of 1,110,000 units (the "Units") at a price of $0.05 per Unit. In
total, $579,000 were raised in the Private Placement for the issuance of 11,580,000 Units.
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 per share
until July 31, 2020. In the event that the Common Shares trade on the TSX Venture Exchange at a volume weighted-
average price of $0.14 or more per Common Share for any period of at least ten consecutive trading days after July
31, 2017, the Company shall be entitled to accelerate the expiry time of the Warrants to a date that is at least thirty
days from the date that written notice of such acceleration is provided to the holders of the Warrants by way of news
release, with the new expiry time specified in such notice.
The Company paid a finder’s fee to Leede Jones Gable Inc. in the amount of $2,040 in cash and 40,800 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 July 31, 2020, subject to acceleration as described above.
All securities issued in this final tranche of the Private Placement are subject to a statutory hold period expiring on
December 31, 2017.
An officer of the Company participated in the Private Placement, acquiring 600,000 Units, which constitutes a “related
party transaction” for purposes of Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special
Transactions (“MI 61-101”). The Company has relied on the exemptions contained in sections 5.5(a) and 5.7(1)(a) of
MI 61-101 from the valuation and minority shareholder approval requirements in MI 61-101 in respect of such officers’
participation in the Private Placement, since neither the fair market value of the subject matter of, nor the fair market
value of the consideration for, such officer’s investment, exceeds 25% of the Company’s market capitalization.
The Company intends to use the total proceeds from the Private Placement to begin the planned $2,000,000 multi -
phase exploration program and for working capital purposes, all as further described in the Company’s news releases
dated July 6 and August 1, 2017. All additional proceeds above $500,000 will be used for working capital purposes.
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, follow us on Twitter @PelangioEx 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 – August 30, 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 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 begin and conduct
our exploration program 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 achieveme nts expressed or implied by such forward-
looking statement or information. Such risks include unforeseen circumstances that would cause delays in executing
on our planned exploration program, labour shortages, 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.
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.