Source - LSE Regulatory
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

(Nominated & Financial Adviser)

James Spinney

Ritchie Balmer

Jack Botros

info@strandhanson.co.uk

 

 

 

Brandon Hill Capital

(Broker)

Jonathan Evans

Oliver Stansfield

info@brandonhillcapital.com

 

 

 

St Brides Partners Ltd

(Financial PR)

Isabel de Salis

Beth Melluish

info@stbridespartners.co.uk

 

 

 

This information is provided by RNS, the news service of the 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.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
 
END
 
 
DISPPUWWPUPGUMC
Find out how to deal online from £1.50 in a SIPP, ISA or Dealing account.