October 13, 2009
Pelangio Exploration Inc. (TSX VENTURE:PX) completed a bought deal private placement for gross proceeds of $7,000,030. A syndicate of underwriters led by Fraser Mackenzie Limited and including Clarus Securities Inc. arranged for the issuance and sale of 18,919,000 units of Pelangio on a bought deal basis at a price of $0.37 per unit, each unit being comprised of one common share and one-half of one common share purchase warrant. Each whole warrant entitles the holder to acquire one common share of Pelangio at a price of $0.65 at any time prior to April 13, 2011.
Wildeboer Dellelce LLP represented the underwriters with a team that included Derek Sigel, Al Wiens and Zahar Orlov (corporate/securities).