Jangada Mines PLC Sale of 3.875 million ValOre Shares (5599R)
March 09 2021 - 1:00AM
UK Regulatory
TIDMJAN
RNS Number : 5599R
Jangada Mines PLC
09 March 2021
Jangada Mines plc / EPIC: JAN.L / Market: AIM / Sector:
Mining
9 March 2021
Jangada Mines plc
Sale of 3.875 million ValOre Shares
Jangada Mines plc, a natural resources company, is pleased to
announce that it has sold an additional 3.875 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$1,162,500.
The proceeds, along with the funds raised in the placing
announced on 19 February 2021 and the sale of ValOre shares
announced on 24 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 10,625,000 ValOre
common shares, representing 8.9 per cent of ValOre's share
capital.
Brian McMaster, Executive Chairman of Jangada, said: "We have
again reinforced our treasury position as we prepare Jangada for
its next phase of project development to be accelerated with the
upcoming revised PEA, which will encompass the expansion and
upgrade of the existing mineral resource and completion of new
metallurgical tests. As announced on 1 March 2021, we have also
recently strengthened of our technical team at the Project, which
is a key part of our strategy and will be instrumental in unlocking
Pitombeiras' value."
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 Isabel de Salis Tel: +44 (0)20 7236
Ltd Beth Melluish 1177
(Financial PR)
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END
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