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Pelangio Exploration Increases Size of Previously Announced Private Placement to up to $1,350,000
This News Release is Intended for Distribution in Canada Only and is not Intended for Distri...
About this update from Pelangio Exploration Inc.
[{"type":"text","content":"Pelangio Exploration Increases Size of Previously Announced Private Placement to up to $1,350,000This 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 / May 11, 2020 / Pelangio Exploration Inc. (TSXV:PX)(OTC PINK:PGXPF) (\"Pelangio\" or the \"Company\") is pleased to announce that due to additional demand, the Company has increased the size of its previously announced non-brokered proviate placement of hard dollar units (\"HD Units\") and flow-through shares (\"FT Shares\") from aggregate gross proceeds of up to $840,000 to aggregate gross proceeds of up to $1,350,000 (the \"Offering\"). The Offering consists of the sale of HD Units, each such HD Unit comprised of one common share and one common shares purchase warrant, for the price of $0.12 per HD Unit and common shares of the Company issued on a flow-through basis at a price of $0.14 per FT Share. For additional details of the Offering, please refer to the Company's press release dated May 7, 2020.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 land packages in world-class gold belts in Canada and Ghana, West Africa. In Canada, the company is focusing on the 6.7 km2 Grenfell property located approximately 10 km from the Macassa Mine in Kirkland Lake, 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 and 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-...