- Pelangio Exploration (PX) announced the company has issued a non-brokered private placement
- Gross proceeds are expected to total up to C$750,000
- The company plans to use the proceeds for exploration programs at three Canadian projects
- The shares issued will be subject to a hold period and will not be sold in the United States
- Pelangio Exploration is up 10.71 per cent, trading at $0.16 at 12:51 pm ET
Pelangio Exploration (PX) announced the company has issued a non-brokered private placement.
Gross proceeds are expected to total up to C$750,000.
The Toronto-based junior gold exploration company plans to use the proceeds of the offering for exploration programs at Pelangio’s Dome West, Gowan and Hailstone projects.
The shares issued under the offering will be subject to a four-month and one day hold period and will not be sold in the United States.
The offering is subject to customary closing conditions including, but not limited to, receipt of applicable regulatory approvals, including approval of the TSXV.
The closing of the offering may occur in one or more tranches.
Pelangio acquires and explores gold belt land packages Ghana, West Africa and Canada.
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 kilometres east of the Kidd Creek Mine, and is advancing its Hailstone property in Saskatchewan.
Pelangio Exploration is up 10.71 per cent, trading at $0.16 at 12:51 pm ET.
