By Laura Lutz
Des Moines, April 4 - Largo Resources Ltd. arranged a private placement of units for up to C$5.005 million.
The company plans to sell up to 9.1 million units of one share and one half-share transferable warrant at C$0.55 per unit. Each whole warrant will be exercisable at C$0.80 for 18 months.
The deal will be placed through a syndicate of agents led by Pacific International Securities Inc. and including PowerOne Capital Markets Ltd. and Fraser Mackenzie Ltd.
Proceeds will be used to explore the company's projects in Yukon and Brazil.
Largo is a Toronto-based resource development and exploration company.
| Issuer: | Largo Resources Ltd.
|
| Issue: | Units of one share and one half-share warrant
|
| Amount: | C$5.005 million
|
| Units: | 9.1 million
|
| Price: | C$0.55
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | 18 months
|
| Warrant strike price: | C$0.80
|
| Agents: | Pacific International Securities Inc. (lead), PowerOne Capital Markets Ltd., Fraser Mackenzie Ltd.
|
| Pricing date: | April 4
|
| Stock symbol: | TSX Venture: LGO
|
| Stock price: | C$0.64 at close April 3
|
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