Pelangio Exploration Announces Clarification To Previously Announced Private Placement For Gross Proceeds Up To $500,000

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[{"type":"text","content":"Pelangio Exploration Announces Clarification To Previously Announced Private Placement For Gross Proceeds Up To $500,000THIS 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 STATESTORONTO, ON / ACCESSWIRE / September 15, 2023 / Pelangio Exploration Inc. (TSX-V:PX)(OTC PINK:PGXPF) (\"Pelangio\" or the \"Company\") announces a clarification to the previously announced non-brokered private placement for gross proceeds of up to $500,000 (the \"Offering\"). The Offering will consist of the sale of units (the \"Units\") of the Company at a price of $0.03 per Unit. Each Unit consists of one common share of the Company (a \"Common Share\") and one Common Share purchase warrant (\"Warrant\"). Each whole Warrant entitles the holder to purchase one Common Share at a price of $0.05 for a period of five years from the initial closing date of the Offering. The Company intends to use the gross proceeds for working capital, including up to 10% for settling non-arm's length payables, as well as general corporate purposes including land maintenance costs.The Offering is subject to customary closing conditions including, but not limited to, receipt of applicable regulatory approvals, including approval of the TSX-V. The closing of the Offering may occur in one or more tranches, with the initial closing date of the Offering expected to occur on or around September 25th, 2023 and is not subject to receipt of a minimum amount of gross proceeds. The securities issued pursuant to the Offering will be subject to a four-month and one day hold period in accordance with applicable Canadian securities laws and TSX-V policies. The Offering is open to participation by insiders.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 State in which such offer, solicitation or sale would be unlawful.About PelangioPelangio acquires and explores prospective land packages located in world-class gold belts in Ghana, West Africa and Cana...

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