Fourth tranche shares received from ValOre

RNS Number : 0156J

Jangada Mines PLC

18 August 2021

 

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

18 August 2021

Jangada Mines plc

Fourth 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 fourth 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, 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 totaling CAD$3,000,000 and following the issuance of the fourth tranche of post-completion consideration shares, and post the sales of ValOre shares previously received by Jangada under the first three tranches, Jangada now holds a total of 1,505,000 ValOre common shares, representing 1.3 per cent of ValOre's share capital.  The remaining 1,000,000 ValOre common shares due to Jangada are payable in six-monthly instalments of 500,000 shares each over the next twelve 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.

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

Jangada Mines plc	Brian McMaster (Chairman)	Tel: [phone]
Strand Hanson Limited (Nominated & Financial Adviser)	James Spinney Ritchie Balmer	Tel: [phone]
Brandon Hill Capital (Broker)	Jonathan Evans Oliver Stansfield	Tel: [phone]
St Brides Partners Ltd (Financial PR)	Isabel de Salis Frank Buhagiar	Tel: [phone]

 

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