Sale of ValOre shares for C$1,750,000

RNS Number : 6172V

Jangada Mines PLC

10 August 2020

 

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

10 August 2020

Jangada Mines plc

Sale of ValOre shares for C$1,750,000

Jangada Mines plc ('Jangada' or 'the Company'), a natural resources company, is pleased to announce that is has sold 7,000,000 of its ValOre Metals Corp. ('ValOre';  TSX‐V:VO) common shares at C$0.25 per share for total gross proceeds of C$1,750,000. Jangada's remaining shareholding position in ValOre now stands at 15,500,000 common shares, which is equivalent to 17.14% of the total basic common ValOre shares outstanding.

The funds from the ValOre share sale will be used to further advance the Company's Pitombeiras Vanadium Project (' Pitombeiras') .  Jangada will provide an update on the next stages of Pitombeiras shortly.

Brian McMaster, Executive Chairman of Jangada, said: "The funds from the ValOre share sale will be used to further advance our Pitombeiras Vanadium Project, where we are currently working to define our maiden JORC resource following a highly successful drill campaign. We remain very supportive of ValOre and our remaining significant shareholding continues to give us excellent exposure to the upside of ValOre's exciting Pedra Branca Platinum Group Elements Project, located adjacent to our Pitombeiras Project, as they start their core drilling programme."

This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014. 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)	James Spinney Ritchie Balmer Jack Botros	Tel: [phone]
Brandon Hill Capital (Broker)	Jonathan Evans Oliver Stansfield	Tel: [phone]
St Brides Partners Ltd (Financial PR)	Charlotte Page Beth Melluish	Tel: [phone]

 

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