Business
Pelangio Announces It is Not Acquiring an Interest in Abansuaso Property
TORONTO, ON / ACCESSWIRE / February 5, 2020 / Pelangio Exploration Inc. (TSXV:PX)(OTC PINK:...
About this update from Pelangio Exploration Inc.
[{"type":"text","content":"Pelangio Announces It is Not Acquiring an Interest in Abansuaso PropertyTORONTO, ON / ACCESSWIRE / February 5, 2020 / Pelangio Exploration Inc. (TSXV:PX)(OTC PINK:PGXPF) (\"Pelangio\" or the \"Company\") announces it is not proceeding with the purchase of an interest in the Abansuaso Prospecting License. The Company's news release dated November 26, 2019 announced that it had entered into a term sheet with Supercare Group Limited (\"Supercare\") to acquire a 90% interest in the 60 square kilometer Abansuaso Prospecting License (\"Abansuaso\"). The term sheet was subject to a number of conditions, including the negotiation of a definitive agreement. The Company and Supercare were not able to arrive at a definitive agreement, and consequently the acquisition will not be proceeding at this time.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. 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 Dome West property located 800 metres from the Dome Mine in Timmins, the 25 km2 Birch Lake Property located in the Red Lake Mining District, the Grenfell Property located 10 km from the Macassa Mine in Kirkland Lake, 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 284 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 CEOTel: 905-336-3828 / Toll-free: 1-877-746-1632 / Email: [email protected] 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...