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Jangada receives third tranche of shares in Valcore from sale of Pedra Branca
StockMarketWire.com
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Natural resources company Jangada said it had been issued the third tranche of 500,000 common shares in TSX-V listed ValOre Metals relating to the sale of the company's previously owned PGM project held by Pedra Branca.
Under the terms of the agreement, completed on 15 August 2019, Jangada sold its interests in Pedra Branca to ValOre in a cash and shares agreement, payable in several tranches.
All cash payments due to Jangada had been received totaling CAD$3,000,000 and following issuance of the third tranche of post-completion consideration shares, Jangada now held 16.5 million shares, representing 18.03% stake in ValOre.
The remaining 1.5 million ValOre common shares due to Jangada were payable in six-monthly instalments of 500,000 shares each over the next 18 months.
At 9:55am: (LON:JAN) Jangada Mines Plc Ord Gbp0.0004 share price was 0p at 5p
Story provided by StockMarketWire.com
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