Pelangio Exploration Announces Private Placement for Gross Proceeds up to $4,000,000

Core Viewpoint - Pelangio Exploration Inc. is conducting a non-brokered private placement to raise gross proceeds of up to $4,000,000, with each unit priced at $0.18, consisting of one common share and one half of a warrant [1][2]. Group 1: Offering Details - The offering will consist of units priced at $0.18 each, with each unit comprising one common share and one half of a warrant [1]. - Each whole warrant allows the holder to purchase one common share at a price of $0.31 for a period of two years from the initial closing date [1]. - The offering is subject to customary closing conditions, including regulatory approvals, and may close in multiple tranches, with the initial closing expected around October 9, 2025 [3]. Group 2: Use of Proceeds - The gross proceeds from the offering will be allocated for exploration, metallurgical work, land maintenance costs, working capital, and general corporate purposes [2]. Group 3: Insider Participation - Certain insiders may participate in the offering, which will be considered a related party transaction under Multilateral Instrument 61-101 [4]. - The company intends to rely on exemptions from formal valuation and minority approval requirements, as insider participation is not expected to exceed 25% of the company's market capitalization [4]. Group 4: Securities Regulations - The securities offered have not been registered under the U.S. Securities Act of 1933 and cannot be sold in the United States without registration or an exemption [5]. - The offering is intended for distribution in Canada only and is not meant for U.S. newswire services [10]. Group 5: Company Overview - Pelangio Exploration focuses on acquiring and exploring land packages in gold-rich areas, particularly in Ghana and Canada [7]. - The company has two 100% owned properties in Ghana, including the Manfo property and the Obuasi property, which is adjacent to a high-grade mine [7].