Jangada Mines plc, a natural resources company, is pleased to announce that it has been issued the third 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 issuance of the third tranche of post-completion consideration shares, Jangada now holds a total of 16,500,000 ValOre common shares, representing 18.03 per cent of ValOre’s share capital. The remaining 1,500,000 ValOre common shares due to Jangada are payable in six-monthly instalments of 500,000 shares each over the next eighteen months.
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.
