Pelangio Exploration Grants Stock Options

Rhea-AI Summary

Pelangio Exploration Inc. (OTC PINK:PGXPF) announced a grant of 2,050,000 stock options to directors, officers, employees, and consultants. The options have an exercise price of $0.115 per share and a five-year term, expiring on August 24, 2026. The company is engaged in acquiring and exploring gold properties in Ghana and Canada, including the Manfo and Obuasi properties in Ghana and several projects in Ontario. Further details can be found on their website.

Positive

• Grant of 2,050,000 stock options may help align interests of management and shareholders.
• Options have a favorable exercise price of $0.115 per share, potentially benefiting stock performance.
• Pelangio is exploring valuable gold properties in Ghana and Canada which may enhance its asset portfolio.

Negative

• None.

TORONTO, ON / ACCESSWIRE / August 24, 2021 / Pelangio Exploration Inc. (TSXV:PX)(OTC PINK:PGXPF) (“Pelangio” or the “Company”) today announced that the Board of Directors has approved the grant of 2,050,000 incentive stock options to certain directors, officers, employees and consultants of the Company. The stock options are exercisable into common shares of the Company at a price of $0.115 per share. Subject to the rules of the TSX Venture Exchange and the Company's Stock Option Plan, the options have a term of five years and will expire on August 24, 2026.
Neither TSX-V nor its Regulation Services Provider (as that term is defined in the policies of the TSX-V) accepts responsibility for the adequacy or accuracy of this release.

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 exploring its two 100% owned camp-sized properties: the 100 km2 Manfo property, the site of eight 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, as well as the newly optioned Dankran property located adjacent to its Obuasi property. In Canada, the Company is currently focused in Ontario at its Dome West property, situated some 800 meters from the Dome Mine in Timmins; at its Gowan polymetallic project, located 16 km east of the Kidd Creek Mine, and is exploring its Hailstone property in Saskatchewan. See www.pelangio.com for further detail on all Pelangio's properties.

For additional information, please visit our website at www.pelangio.com, or contact:
Ingrid Hibbard, President and CEO
Tel: 905-336-3828 / Toll-free: 1-877-746-1632 / Email: info@pelangio.com

SOURCE: Pelangio Exploration Inc.

View source version on accesswire.com:
https://www.accesswire.com/661209/Pelangio-Exploration-Grants-Stock-Options

FAQ

What is the stock option grant announced by Pelangio Exploration?

Pelangio Exploration granted 2,050,000 stock options to directors, officers, employees, and consultants at an exercise price of $0.115 per share.

When do the stock options for Pelangio Exploration expire?

The stock options will expire on August 24, 2026.

What are the key properties Pelangio Exploration is focusing on?

Pelangio is focused on gold properties in Ghana, including the Manfo property and the Obuasi property, as well as projects in Ontario, Canada.

What is the significance of the stock options granted by Pelangio Exploration?

The stock options aim to align the interests of management with those of shareholders and provide potential for stock performance enhancement.