REG - Jangada Mines PLC - Consideration shares received from ValOre

Jangada MinesAnnouncement

25/02/2022 07:45

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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
(http://www.jangadamines.com) or contact:

 

  Jangada Mines plc                    Brian McMaster (Chairman)  Tel: +44 (0) 20 7317 6629

 Strand Hanson Limited                 Ritchie Balmer             Tel: +44 (0)20 7409 3494

 (Nominated & Financial Adviser)       James Spinney

 Tavira Securities Limited             Oliver Stanstead           Tel: +44 (0)20 7100 5100

 (Broker)                              Jonathan Evens

 St Brides Partners Ltd                Isabel de Salis            jangada@stbridespartners.co.uk

 (Financial PR)                        Oonagh Reidy

 

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