Consideration shares received from ValOre

RNS Number : 8383C

Jangada Mines PLC

25 February 2022

 

Jangada Mines plc / EPIC: JAN.L / Market: AIM / Sector: Mining

25 February 2022

Jangada Mines plc

Fifth tranche of post-completion consideration shares received from ValOre

Jangada Mines plc, a natural resources company, is pleased to announce that it has been issued the fifth tranche of 500,000 common shares in TSX-V listed ValOre Metals Corp. ('ValOre') in relation to the disposal of the Company's previously owned PGM project held by Pedra Branca Brasil Mineracao Ltda ('Pedra Branca').

Under the terms of the agreement with ValOre, which completed on 15 August 2019, Jangada sold its interests in Pedra Branca to ValOre in a cash and shares agreement, payable in several tranches.  All cash payments due to Jangada have been received totalling CAD$3,000,000, as well as five of the six tranches of post-completion consideration shares.  The final tranche of 500,000 ValOre common shares due to Jangada is payable in approximately six months.

This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014 (withdrawal). Upon the publication of this announcement, this inside information is now considered to be in the public domain.

**ENDS**

For further information please visit www.jangadamines.com or contact:

Jangada Mines plc	Brian McMaster (Chairman)	Tel: [phone]
Strand Hanson Limited (Nominated & Financial Adviser)	Ritchie Balmer James Spinney	Tel: [phone]
Tavira Securities Limited (Broker)	Oliver Stanstead Jonathan Evens	Tel: [phone]
St Brides Partners Ltd (Financial PR)	Isabel de Salis Oonagh Reidy	[e-mail]

 

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