On February 24, 2011, Pelangio Exploration Inc. announced the closing of its previously announced private placement of units (each unit consisting of one common share and one half a warrant) for gross proceeds of $4 million. The offering was led by NCP Northland Capital Partners and included Fraser Mackenzie Limited and Pope & Company Limited.
Pelangio was advised in this transaction by Fasken Martineau with a team that included Lata Casciano, Mark Hawkins and Martin Fisher-Haydis, assisted by articling student Barinder Sidhu.