Pelangio Exploration Reports Results Of Annual And Special Meeting

Rhea-AI Summary

Pelangio Exploration Inc. held its annual and special meeting on June 30, 2021, where management’s proposals were fully approved by shareholders. The board now includes Ingrid Hibbard, JC St. Amour, David Mosher, Kevin Thomson, Joyce Aryee, and Al Gourley. Shareholders also reappointed the auditor and approved a new 10% rolling Stock Option Plan. Pelangio focuses on gold exploration in Ghana and Canada, targeting high-potential properties. For more details, visit www.pelangio.com.

Positive

• All management proposals were approved by shareholders, indicating strong support.
• Board of directors includes experienced members, which could strengthen governance.
• Approval of a 10% rolling Stock Option Plan may enhance employee motivation and retention.

Negative

• None.

TORONTO, ON / ACCESSWIRE / June 30, 2021 / Pelangio Exploration Inc. (TSXV:PX)(OTC PINK:PGXPF) ("Pelangio" or the "Company") is pleased to announce that all matters proposed by management were approved at Pelangio's annual and special meeting held Wednesday, June 30, 2021 (the "Meeting").

At the Meeting, shareholders of Pelangio elected Ingrid Hibbard, JC St. Amour, David Mosher, Kevin Thomson, Joyce Aryee, and Al Gourley to the board of directors. The shareholders also approved the reappointment of its auditor. Further, the shareholders approved the amendment of the Stock Option Plan of the Company to become a 10% "rolling" plan. No additional business was brought before the Meeting.

Neither TSX-V nor its Regulation Services Provider (as that term is defined in the policies of the TSX-V) accept 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

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 exploration plans. With respect to forward-looking statements and information contained herein, we have made numerous assumptions. 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.

SOURCE: Pelangio Exploration Inc.

View source version on accesswire.com:
https://www.accesswire.com/653839/Pelangio-Exploration-Reports-Results-Of-Annual-And-Special-Meeting

FAQ

What were the results of Pelangio's June 30, 2021 annual meeting?

At the June 30, 2021 meeting, Pelangio shareholders approved all management proposals, including board elections and a new Stock Option Plan.

Who was elected to the board of Pelangio Exploration?

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

What is the new Stock Option Plan approved by Pelangio?

Pelangio approved a new 10% rolling Stock Option Plan at the annual meeting.

What is Pelangio Exploration's focus?

Pelangio Exploration focuses on acquiring and exploring gold properties in Ghana and Canada.

What properties is Pelangio exploring?

Pelangio is exploring properties in Ghana, including the Manfo and Obuasi properties, and also in Ontario, Canada.