Pelangio Exploration Secures $1 Million in Private Placement

The latest update is out from Pelangio Exploration ( (TSE:PX) ).

Pelangio Exploration Inc. announced the successful closing of a non-brokered private placement, raising $1,000,000 through the issuance of 25,000,000 units at $0.04 per unit. The proceeds are intended for working capital, exploration, metallurgical work, land maintenance, and general corporate purposes. This move is expected to bolster the company’s financial position, enabling it to advance its exploration activities in Ghana and Canada, potentially enhancing its market standing and offering new opportunities for stakeholders.

More about Pelangio Exploration

Pelangio Exploration Inc. is engaged in acquiring and exploring prospective land packages in world-class gold belts located in Ghana, West Africa, and Canada. The company focuses on its two 100% owned properties in Ghana: the Manfo property, known for eight near-surface gold discoveries, and the Obuasi property, located near AngloGold Ashanti’s high-grade Obuasi Mine.

YTD Price Performance: 150.0%

Average Trading Volume: 154,449

Technical Sentiment Signal: Hold

Current Market Cap: C$12.95M

Learn more about PX stock on TipRanks’ Stock Analysis page.