Pelangio Exploration Reports Results of Annual Meeting

Rhea-AI Summary

Pelangio Exploration announced the results of its annual meeting held on June 28, 2024. All matters proposed by management were approved by shareholders. Key decisions included the re-election of board members Ingrid Hibbard, JC St. Amour, David Mosher, Kevin Thomson, and Al Gourley.

Additionally, shareholders approved the reappointment of the company's auditor and the reapproval of the stock option plan. No new business was introduced during the meeting.

Positive

• Shareholders re-elected all proposed members to the board of directors, ensuring continuity in leadership.
• Approval of the reappointment of the auditor, indicating shareholder confidence in financial oversight.
• Reapproval of the stock option plan, which can be seen as a tool to retain and motivate employees.

Negative

• None.

TORONTO, ON / ACCESSWIRE / June 28, 2024 / Pelangio Exploration Inc. (TSX-V:PX)(OTC PINK:PGXPF) ("Pelangio" or the "Company") is pleased to announce that all matters proposed by management were approved at Pelangio's annual meeting held Friday, June 28, 2024 (the "Meeting").

At the Meeting, shareholders of Pelangio re-elected Ingrid Hibbard, JC St. Amour, David Mosher, Kevin Thomson, and Al Gourley to the board of directors. The shareholders also approved the reappointment of its auditor and reapproved the Company's stock option plan. No additional business was brought before the Meeting.

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 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 Dankan property located adjacent to its Obuasi property. In Canada, the Company is currently focused in Ontario at its gold, silver, zinc polymetallic Kenogaming project, located 63 km southwest of Timmins and at its Gowan polymetallic project, located 16 km east of the Kidd Creek Mine. See www.pelangio.com for further details 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

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 Company's strategy of acquiring large land packages in areas of sizeable gold mineralization, and the Company's ability to complete the planned exploration programs. Regarding forward-looking statements and information contained herein, we have made many assumptions, including about 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 changes in equity markets, share price volatility, volatility of global and local economic climate, gold price volatility, political developments in Ghana, and Canada, increases in costs, exchange rate fluctuations, speculative nature of gold exploration, including the risk that favourable exploration results may not be obtained, delays due to COVID-19 safety protocols, 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.

SOURCE: Pelangio Exploration Inc.

View the original press release on accesswire.com

FAQ

What did Pelangio Exploration report from the annual meeting on June 28, 2024?

Pelangio Exploration reported that all management proposals were approved, including the re-election of board members, reappointment of the auditor, and reapproval of the stock option plan.

What decisions were made at Pelangio Exploration's annual meeting?

Shareholders re-elected the board of directors, reappointed the company's auditor, and reapproved the stock option plan.

Who were re-elected to the board of Pelangio Exploration in the 2024 annual meeting?

Ingrid Hibbard, JC St. Amour, David Mosher, Kevin Thomson, and Al Gourley were re-elected to the board.

What is the significance of the stock option plan approval at Pelangio Exploration's meeting?

The stock option plan reapproval provides a mechanism to attract, retain, and motivate employees through equity incentives.

How did shareholders respond to the reappointment of Pelangio Exploration's auditor in 2024?

Shareholders approved the reappointment of the auditor, suggesting confidence in the company's financial oversight.