Pelangio Exploration Announces Issuance of Shares for Final Litigation Settlement Payment

Pelangio Exploration Inc. (TSX-V:PX)(OTC PINK:PGXPF) has agreed to issue 1,500,000 common shares at a deemed per-share price of $0.02, equivalent to the end-of-day price on the TSX Venture Exchange (TSXV). This issuance, valued at C$30,000, is the final settlement payment under the terms of a settlement agreement previously disclosed on July 11, 2023, and January 22, 2024.

The issuance remains subject to TSXV approval. The shares will be subject to a four-month hold period, expiring four months and one day from the date of issuance. This marks the conclusion of the litigation settlement payments by Pelangio.