Pelangio Exploration increases financing to $4.5M

Executive Summary

• Pelangio Exploration Inc. raised the target gross proceeds of its non‑brokered private placement from up to $4 million to up to $4.5 million due to additional investor demand.
• Units are priced at C$0.18 each and include one common share plus half a warrant; full warrants allow purchase of shares at C$0.31 for two years.
• Proceeds will be used for exploration, metallurgical work, land maintenance, working capital and general corporate purposes.

Key Details

• Increased Offering Size: Gross proceeds target raised to up to $4.5 million (from $4 million).
• Pricing & Structure: Units sold at C$0.18 per unit; each unit = 1 common share + ½ warrant. Full warrant purchase price C$0.31/share, exercisable for two years from initial closing.
• Use of Proceeds: Funding allocated to exploration activities, metallurgical testing, land maintenance costs, working capital and general corporate purposes.
• Closing Timeline: Initial closing expected on or about Oct. 9, 2025; may occur in one or more tranches; no minimum proceeds condition.
• Hold Period: Securities subject to a four‑month‑and‑one‑day hold period under Canadian securities law and TSX‑V policies.
• Finder’s Fees: Up to 7 % of gross proceeds may be paid in cash or issued as non‑transferable common share purchase warrants (exercise price C$0.18, two‑year term).
• Insider Participation: Insiders may participate; such participation treated as a related‑party transaction but will rely on MI 61‑101 exemptions, with fair market value not to exceed 25 % of market capitalization.

Notable Quotes

(No executive quotes were provided in the release.)