Pelangio arranges $4-million private placement

Executive Summary

• Pelangio Exploration Inc. announced a non‑brokered private placement to raise up to $4 million in gross proceeds.
• Units are priced at $0.18 per unit, each comprising one common share and half of a common share purchase warrant (full warrant allows purchase at $0.31 for two years).
• Proceeds will be used for exploration, metallurgical work, land maintenance, working capital, and general corporate purposes.

Key Details

• Offering Size: Up to $4 million gross proceeds.
• Unit Price: $0.18 per unit.
• Unit Composition: 1 common share + ½ of a common share purchase warrant (full warrant = right to buy one share at $0.31 for two years).
• Warrant Terms: Hold period of four months and one day; exercise price $0.31; expiry two years from initial closing date.
• Closing Timeline: Initial closing expected on or about Oct. 9, 2025; may occur in multiple tranches; no minimum proceeds required.
• Finder’s Fee: Up to 7 % of the offering amount, payable in cash or via non‑transferable finder warrants (exercise price $0.18, two‑year term).
• Insider Participation: Insiders may participate as a related‑party transaction; company will rely on MI 61‑101 exemptions, with insider fair market value not to exceed 25 % of market cap.
• Use of Proceeds: Exploration activities, metallurgical work, land maintenance costs, working capital, and general corporate purposes.
• Regulatory Conditions: Subject to customary closing conditions, including TSX Venture Exchange approval and a statutory hold period.

Notable Quotes

(No executive quotes were provided in the release.)