Jangada Mines PLC Fourth tranche shares received from ValOre (0156J)
18 August 2021 - 4:45PM
UK Regulatory
TIDMJAN
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: +44 (0) 20 7317
6629
Strand Hanson Limited James Spinney Tel: +44 (0)20 7409
(Nominated & Financial Ritchie Balmer 3494
Adviser)
Brandon Hill Capital Jonathan Evans Tel: +44 (0)20 3463
(Broker) Oliver Stansfield 5000
St Brides Partners Isabel de Salis Tel: +44 (0)20 7236
Ltd Frank Buhagiar 1177
(Financial PR)
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END
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