Jangada Mines PLC Sale of ValOre shares for C$1,750,000 (6172V)
August 10 2020 - 2:45AM
UK Regulatory
TIDMJAN
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: +44 (0) 20 7317
6629
Strand Hanson Limited James Spinney Tel: +44 (0)20 7409
(Nominated & Financial Ritchie Balmer 3494
Adviser) Jack Botros
Brandon Hill Capital Jonathan Evans Tel: +44 (0)20 3463
(Broker) Oliver Stansfield 5000
St Brides Partners Charlotte Page Tel: +44 (0)20 7236
Ltd Beth Melluish 1177
(Financial PR)
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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 rns@lseg.com or visit www.rns.com.
END
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