StockMarketWire.com - Natural resources company Jangada Mines said it had sold 7m shares of its stake in ValOre Metals Corp for C$1.75m to fund the development of Pitombeiras vanadium project.

Jangada's remaining stake in ValOre now stands at 15.5m common shares, equivalent to 17.14% of the total basic common ValOre shares outstanding.

'The funds from the ValOre share sale will be used to further advance the company's Pitombeiras vanadium project.

Jangada said it would provide an update on the next stages of Pitombeiras shortly.



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