TIDMJAN

RNS Number : 2400W

Jangada Mines PLC

14 August 2020

Jangada Mines plc / EPIC: JAN.L / Market: AIM / Sector: Mining

14 August 2020

Jangada Mines plc ('Jangada' or the 'Company')

Second 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 second 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'), which completed on 15 August 2019.

Under the terms of the binding share purchase agreement, as announced on 17 July 2019, Jangada sold its interests in Pedra Branca to ValOre for an aggregate consideration of up to 25,000,000 ValOre common shares and cash payments totaling CAD$3,000,000, payable in several tranches. All cash payments due to Jangada have been received and following issuance of the second tranche of post-completion consideration shares, Jangada holds a total of 16,000,000 ValOre common shares, representing 17.68 per cent of ValOre's share capital. The remaining 2,000,000 ValOre common shares due to Jangada are payable in six-monthly instalments of 500,000 shares each over the next two years.

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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END

MSCKKQBNPBKDOFD

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August 14, 2020 11:41 ET (15:41 GMT)

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