Pelangio Exploration Announces Closing of Private Placement for Gross Proceeds of $1,000,000
Pelangio Exploration (TSXV: PX) (OTC Pink: PGXPF) has successfully completed a non-brokered private placement, raising $1,000,000 through the issuance of 25,000,000 units at $0.04 per unit. Each unit comprises one common share and one warrant, with warrants exercisable at $0.05 per share for 36 months.
The proceeds will be allocated to working capital, including exploration activities, metallurgical work, and land maintenance costs. Up to 10% will be used for settling non-arm's length payables and general corporate purposes. No finder's fees are associated with this placement.
The securities are subject to a four-month hold period and final TSX Venture Exchange approval. The offering excludes U.S. registration under the Securities Act of 1933.
Pelangio Exploration (TSXV: PX) (OTC Pink: PGXPF) ha completato con successo un collocamento privato non intermediazione, raccogliendo $1.000.000 attraverso l'emissione di 25.000.000 di unit脿 a $0,04 per unit脿. Ogni unit脿 comprende una azione comune e un warrant, con warrant esercitabili a $0,05 per azione per 36 mesi.
I proventi saranno destinati a capitale circolante, comprese attivit脿 di esplorazione, lavori metallurgici e costi di manutenzione del terreno. Fino al 10% sar脿 utilizzato per saldare debiti non in condizioni di mercato e per scopi aziendali generali. Non ci sono commissioni per intermediari associate a questo collocamento.
I titoli sono soggetti a un periodo di blocco di quattro mesi e all'approvazione finale della TSX Venture Exchange. L'offerta esclude la registrazione negli Stati Uniti ai sensi del Securities Act del 1933.
Pelangio Exploration (TSXV: PX) (OTC Pink: PGXPF) ha completado con 茅xito una colocaci贸n privada sin intermediarios, recaudando $1,000,000 mediante la emisi贸n de 25,000,000 de unidades a $0.04 por unidad. Cada unidad comprende una acci贸n com煤n y un warrant, con warrants ejercitables a $0.05 por acci贸n durante 36 meses.
Los ingresos se destinar谩n a capital de trabajo, incluyendo actividades de exploraci贸n, trabajos metal煤rgicos y costos de mantenimiento de terrenos. Hasta el 10% se utilizar谩 para liquidar cuentas por pagar en condiciones no de mercado y para fines corporativos generales. No hay comisiones de intermediarios asociadas con esta colocaci贸n.
Los valores est谩n sujetos a un per铆odo de retenci贸n de cuatro meses y a la aprobaci贸n final de la TSX Venture Exchange. La oferta excluye el registro en EE. UU. bajo la Securities Act de 1933.
韼犽瀫歆�鞓� 韮愳偓 (TSXV: PX) (OTC Pink: PGXPF)電� 欷戧皽鞚� 鞐嗠姅 靷 氚办爼鞚� 靹标车鞝侅溂搿� 鞕勲頃橃棳 $1,000,000鞚� 氇頄堨姷雼堧嫟. 鞚措姅 欤茧嫻 $0.04搿� 25,000,000臧滌潣 鞙犽嫑鞚� 氚滍枆頃� 瓴冹瀰雼堧嫟. 臧� 鞙犽嫑鞚� 頃� 臧滌潣 氤错喌欤检檧 頃橂倶鞚� 鞗岆煱韸鸽 甑劚霅橃柎 鞛堨溂氅�, 鞗岆煱韸鸽姅 36臧滌洈 霃欖晥 欤茧嫻 $0.05鞐� 頄夓偓頃� 靾� 鞛堨姷雼堧嫟.
鞚� 靾橃澋旮堨潃 鞖挫榿 鞛愲掣鞐� 氚办爼霅橂┌, 韮愳偓 頇滊彊, 旮堨啀 臧�瓿� 鞛戩梾 氚� 韱犾 鞙犾 牍勳毄鞚� 韽暔頃╇媹雼�. 斓滊寑 10%電� 牍勳嫓鞛� 臁瓣贝鞚� 歆�旮夓眲氍措ゼ 鞝曥偘頃橁碃 鞚茧皹 旮办梾 氇╈爜鞐� 靷毄霅╇媹雼�. 鞚� 氚办爼瓿� 甏�霠晿鞐� 欷戧皽鞚� 靾橃垬耄岆姅 鞐嗢姷雼堧嫟.
鞚� 歃濌秾鞚� 4臧滌洈鞚� 氤挫湢 旮瓣皠瓿� TSX 氩れ矘 瓯半灅靻岇潣 斓滌 鞀轨澑鞚� 氚涭晞鞎� 頃╇媹雼�. 鞚� 鞝滉车鞚� 1933雲� 歃濌秾氩曥棎 霐半ジ 氙戈淡 霌彪鞚� 鞝滌櫢頃╇媹雼�.
Pelangio Exploration (TSXV: PX) (OTC Pink: PGXPF) a r茅ussi 脿 r茅aliser un placement priv茅 sans interm茅diaire, levant $1.000.000 par l'茅mission de 25.000.000 d'unit茅s 脿 $0,04 par unit茅. Chaque unit茅 comprend une action ordinaire et un bon de souscription, avec des bons exer莽ables 脿 $0,05 par action pendant 36 mois.
Les produits seront affect茅s 脿 fonds de roulement, y compris les activit茅s d'exploration, les travaux m茅tallurgiques et les co没ts d'entretien des terrains. Jusqu'脿 10% seront utilis茅s pour r茅gler des cr茅ances non li茅es au march茅 et pour des fins d'entreprise g茅n茅rales. Aucun frais d'interm茅diaire n'est associ茅 脿 ce placement.
Les titres sont soumis 脿 une p茅riode de blocage de quatre mois et 脿 l'approbation finale de la TSX Venture Exchange. L'offre exclut l'enregistrement aux 脡tats-Unis en vertu du Securities Act de 1933.
Pelangio Exploration (TSXV: PX) (OTC Pink: PGXPF) hat erfolgreich eine nicht vermittelte Privatplatzierung abgeschlossen und $1.000.000 durch die Emission von 25.000.000 Einheiten zu je $0,04 pro Einheit gesammelt. Jede Einheit besteht aus einer Stammaktie und einem Warrant, wobei Warrants f眉r 36 Monate zu $0,05 pro Aktie ausge眉bt werden k枚nnen.
Die Erl枚se werden f眉r 叠别迟谤颈别产蝉惫别谤尘枚驳别苍 verwendet, einschlie脽lich Erkundungsaktivit盲ten, metallurgischen Arbeiten und Kosten f眉r die Instandhaltung von Grundst眉cken. Bis zu 10% werden verwendet, um nicht arm's length Verbindlichkeiten zu begleichen und f眉r allgemeine Unternehmenszwecke. Es sind keine Findergeb眉hren mit dieser Platzierung verbunden.
Die Wertpapiere unterliegen einer viermonatigen Haltedauer und der endg眉ltigen Genehmigung der TSX Venture Exchange. Das Angebot schlie脽t die Registrierung in den USA gem盲脽 dem Securities Act von 1933 aus.
- Secured $1,000,000 in fresh capital through private placement
- No finder's fees required, reducing transaction costs
- 36-month warrant provision offers potential additional future funding at $0.05 per share
- Significant dilution with 25,000,000 new units issued
- Low unit pricing at $0.04 indicates challenging market conditions
- Up to 10% of proceeds allocated to settling payables rather than growth initiatives
Toronto, Ontario--(Newsfile Corp. - March 29, 2025) - Pelangio Exploration Inc. (TSXV: PX) (OTC Pink: PGXPF) ("Pelangio" or the "Company") is pleased to announce that it has closed a non-brokered private placement of 25,000,000 units (the "Units") of the Company at a price of
Each Unit consists of one common share of the Company (a "Share") and one Common Share purchase warrant ("Warrant"). Each Warrant entitles the holder to purchase one Common Share for a period of 36 months from the date of the issue of the Warrants at an exercise price of
The Company intends to use the gross proceeds for working capital, including exploration, metallurgical work and land maintenance costs, up to
No finder's fees are payable in relation to this private placement. All securities issued in this closing of the Private Placement are subject to statutory four-month hold periods expiring four months after the date of issuance. The Private Placement remains subject to obtaining final approval of the TSX Venture Exchange.
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 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 acquires and explores prospective land packages located in world-class gold belts in Ghana, West Africa and Canada. In Ghana, the Company is focused on its two
Ingrid Hibbard, President and CEO
Tel: 905-336-3828 / 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 Offering generally, the proceeds that may be raised in connection with the Offering, the proposed use of proceeds and the Company's exploration plans. 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 Offering in a timely manner, if at all, and the state of the equity markets. 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 achievements expressed or implied by such forward-looking statement or information. Such risks include the ability of the Company to meet the conditions of closing, our ability to conduct our exploration programs as planned, 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 the 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.
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
To view the source version of this press release, please visit
FAQ
How much did Pelangio Exploration (PGXPF) raise in their March 2025 private placement?
What are the terms of PGXPF's warrant offering in the March 2025 private placement?
How will Pelangio Exploration (PGXPF) use the proceeds from the private placement?
What is the hold period for securities issued in PGXPF's private placement?
