Jangada Mines PLC Sale of 2 million ValOre Shares (1635Q)
February 24 2021 - 2:35AM
UK Regulatory
TIDMJAN
RNS Number : 1635Q
Jangada Mines PLC
24 February 2021
Jangada Mines plc / EPIC: JAN.L / Market: AIM / Sector:
Mining
24 February 2021
Jangada Mines plc ('Jangada' or 'the Company')
Sale of 2 million ValOre Shares
Jangada Mines plc, a natural resources company, is pleased to
announce that it has sold 2 million of its common shares in ValOre
Metals ('ValOre') at a price of CAD$0.30 per share, providing
Jangada with gross proceeds of CAD$600,000.
The proceeds, along with the funds raised in the placing
announced on 19 February 2021, will be used for ongoing exploration
and working capital purposes at the Company's 100%-owned
Pitombeiras Vanadium Project ('Pitombeiras' or the 'Project'),
Ceará State, Brazil. Jangada now holds a total of 14,500,000 ValOre
common shares, representing 12.1 per cent of ValOre's share
capital.
Brian McMaster, Executive Chairman of Jangada, said: "The recent
PEA confirmed Pitombeiras is a project with very robust economics
and remarkable potential for further growth, which we are committed
to delivering. The funds received from the sale of the ValOre
shares, along with the proceeds raised in the recent placing, will
allow us to further strengthen this initial PEA through the
expansion of the resource and completion of new metallurgical
tests, which will provide the basis for discussions with potential
traders and off-takers."
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) info@jangadamines.com
Strand Hanson Limited James Spinney info@strandhanson.co.uk
(Nominated & Financial Ritchie Balmer
Adviser) Jack Botros
Brandon Hill Capital Jonathan Evans info@brandonhillcapital.com
(Broker) Oliver Stansfield
St Brides Partners Isabel de Salis info@stbridespartners.co.uk
Ltd Beth Melluish
(Financial PR)
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END
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