Pelangio Exploration Inc. (TSXV:PX) announced a non-brokered private placement of hard dollar units at a price of CAD 0.13 per share unit and flow-through common shares at a price of CAD 0.17 per share for gross proceeds of CAD 1,800,000 on November 16, 2020. Each hard dollar unit consists of one common share and one common share purchase warrant. Each warrant will entitle the holder to purchase a common share at a price of CAD 0.18 per share for a period of 2 years from closing, subject to accelerated expiry if the volume weighted average price of common shares on the TSX Venture Exchange at or above CAD 0.30 for 15 consecutive days. The securities issued will be subject to hold period of four months and one day. The transaction is subject to customary closing conditions including applicable regulatory approvals including approval of TSX Venture Exchange. The company may receive funding in one or more tranches with the initial tranche expected on December 8, 2020. The company may pay finder's fee of 7% cash and 7% non-transferable warrants subject to TSX policies.