Jangada Mines PLC Fourth tranche shares received from ValOre (0156J)

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: [phone] 
                                                        6629 
 
 Strand Hanson Limited     James Spinney               Tel: [phone] 
  (Nominated & Financial    Ritchie Balmer              3494 
  Adviser) 
 
 Brandon Hill Capital      Jonathan Evans              Tel: [phone] 
  (Broker)                  Oliver Stansfield           5000 
 
 St Brides Partners        Isabel de Salis             Tel: [phone] 
  Ltd                       Frank Buhagiar              1177 
  (Financial PR) 
 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [e-mail] or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.

END

MSCEAKPPFDXFEEA

(END) Dow Jones Newswires

August 18, 2021 02:45 ET (06:45 GMT)