Pelangio Exploration Extends Private Placement
Pelangio Exploration Inc.
Pelangio Exploration Inc. News Release – August 15, 2017 1
82 Richmond Street East, Toronto, ON M5C 1P1 Tel: 905-336-3828 Fax: 905-336-3899
NEWS RELEASE
PELANGIO EXPLORATION EXTENDS 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 15, 2017) – Pelangio Exploration Inc. (PX:TSX-V; OTC PINK:PGXPF) (“Pelangio”
or the “Company”) is pleased to announce that it is extending the time to complete additional tranches of its non-
brokered private placement originally announced July 6, 2017 and increased in size to $600,000 on August 1, 2017
(the "Private Placement"). To date, the Company has raised $523,500 from the sale of 10,470,000 units (each, a
"Unit") at a price of $0.05 per Unit in two tranches that closed on July 31 and August 9, 2017, respectively.
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.
Any and all additional closings of this Private Placement will take place no later than September 14, 2017.
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 and any 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 p e r s o n s t o w h o m t h e s e c u r i t i e s m a y b e s o l d i n
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]
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 closing of
additional tranches of 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 close additional tranches of the Private Placement
in a timely manner, if at all, the state of the equity markets , and our ability to begin and conduct our exploration
program as planned. Such forward-looking statements and information are subject to risks, uncertainties and other
Pelangio Exploration Inc. News Release – August 15, 2017 2
82 Richmond Street East, Toronto, ON M5C 1P1 Tel: 905-336-3828 Fax: 905-336-3899
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 ac hievements expressed or implied by such forward-
looking statement or information. Such risks include the ability of the Company to meet the conditions of closing for
the completion of any additional tranches, 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 Compan y. 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.