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Jangada Mines PLC - London-based mining company focused in Brazil - Issues the fifth tranche of 500,000 shares in ValOreMetals Corp. Under the agreement with ValOre, completed on August 15, 2019, Jangada sold its interests in Pedra Branca Brasil Mineracao Ltda to ValOre in a cash and shares agreement. All cash payments due to Jangada have now been received - totalling CAD3 million, around USD2.3 million - as well as five of the six tranches of post-completion consideration shares.
The final tranche of 500,000 ValOre shares due to Jangada is payable in approximately six months.
Current stock price: 6.28, up 9.2% in London
12-month change: down 36%
By Heather Rydings; heatherrydings@alliancenews.com
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