Pelangio Exploration Announces Private Placement for Gross Proceeds up to $1,000,000

Core Viewpoint - Pelangio Exploration Inc. is conducting a non-brokered private placement to raise gross proceeds of up to $1,000,000 through the sale of units priced at$0.04 each, which include common shares and purchase warrants [1][2]. Group 1: Offering Details - The Offering consists of units priced at $0.04, each unit includes one common share and one warrant [1]. - Each warrant allows the holder to purchase one common share at$0.05 for three years, with potential adjustments based on the trading price of the common shares [1]. - The Offering is subject to customary closing conditions, including regulatory approvals, and may close in multiple tranches, with the initial closing expected around March 15, 2025 [3]. Group 2: Use of Proceeds - The gross proceeds from the Offering will be allocated for working capital, exploration, metallurgical work, land maintenance costs, and up to 10% for settling non-arm's length payables [2]. Group 3: Company Overview - Pelangio Exploration focuses on acquiring and exploring land packages in gold-rich regions, particularly in Ghana and Canada, with significant properties including the Manfo and Obuasi properties [6].