StockMarketWire.com - Natural resources company Jangada Mines said it had completed the sale of its Pedra Branca project to ValOre in a cash and shares deal.

Jangada transferred ownership of Pedra Branca Brasil Mineracao to PBBM Holdings, a subsidiary of ValOre, for 22,000,000 ValOre shares and initial cash proceeds of C$750,000. Jangada would now hold a 26% stake in ValOre.

The company was also due to receive cash payments of C$2m over the next 6 months and up to 3m ValOre common shares over the next three years.


At 8:06am: [LON:JAN] Jangada Mines Plc Ord Gbp0.0004 share price was 0p at 0.98p



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