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 unità a $0,04 per unità. Ogni unità 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 attività di esplorazione, lavori metallurgici e costi di manutenzione del terreno. Fino al 10% sarà 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 éxito una colocación privada sin intermediarios, recaudando $1,000,000 mediante la emisión de 25,000,000 de unidades a $0.04 por unidad. Cada unidad comprende una acción común y un warrant, con warrants ejercitables a $0.05 por acción durante 36 meses.
Los ingresos se destinarán a capital de trabajo, incluyendo actividades de exploración, trabajos metalúrgicos y costos de mantenimiento de terrenos. Hasta el 10% se utilizará para liquidar cuentas por pagar en condiciones no de mercado y para fines corporativos generales. No hay comisiones de intermediarios asociadas con esta colocación.
Los valores están sujetos a un período de retención de cuatro meses y a la aprobación final de la TSX Venture Exchange. La oferta excluye el registro en EE. UU. bajo la Securities Act de 1933.
펠란지오 탐사 (TSXV: PX) (OTC Pink: PGXPF)는 중개인 없는 사모 배정을 성공적으로 완료하여 $1,000,000을 모집했습니다. 이는 주당 $0.04로 25,000,000개의 유닛을 발행한 것입니다. 각 유닛은 한 개의 보통주와 하나의 워런트로 구성되어 있으며, 워런트는 36개월 동안 주당 $0.05에 행사할 수 있습니다.
이 수익금은 운영 자본에 배정되며, 탐사 활동, 금속 가공 작업 및 토지 유지 비용을 포함합니다. 최대 10%는 비시장 조건의 지급채무를 정산하고 일반 기업 목적에 사용됩니다. 이 배정과 관련하여 중개인 수수료는 없습니다.
이 증권은 4개월의 보유 기간과 TSX 벤처 거래소의 최종 승인을 받아야 합니다. 이 제공은 1933년 증권법에 따른 미국 등록을 제외합니다.
Pelangio Exploration (TSXV: PX) (OTC Pink: PGXPF) a réussi à réaliser un placement privé sans intermédiaire, levant $1.000.000 par l'émission de 25.000.000 d'unités à $0,04 par unité. Chaque unité comprend une action ordinaire et un bon de souscription, avec des bons exerçables à $0,05 par action pendant 36 mois.
Les produits seront affectés à fonds de roulement, y compris les activités d'exploration, les travaux métallurgiques et les coûts d'entretien des terrains. Jusqu'à 10% seront utilisés pour régler des créances non liées au marché et pour des fins d'entreprise générales. Aucun frais d'intermédiaire n'est associé à ce placement.
Les titres sont soumis à une période de blocage de quatre mois et à l'approbation finale de la TSX Venture Exchange. L'offre exclut l'enregistrement aux États-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 für 36 Monate zu $0,05 pro Aktie ausgeübt werden können.
Die Erlöse werden für Betriebsvermögen verwendet, einschließlich Erkundungsaktivitäten, metallurgischen Arbeiten und Kosten für die Instandhaltung von Grundstücken. Bis zu 10% werden verwendet, um nicht arm's length Verbindlichkeiten zu begleichen und für allgemeine Unternehmenszwecke. Es sind keine Findergebühren mit dieser Platzierung verbunden.
Die Wertpapiere unterliegen einer viermonatigen Haltedauer und der endgültigen Genehmigung der TSX Venture Exchange. Das Angebot schließt die Registrierung in den USA gemäß 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: info@pelangio.com
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 https://www.newsfilecorp.com/release/246619
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?
