By Laura Lutz
Des Moines, April 23 - Largo Resources Ltd. settled its previously announced private placement of units for C$10,009,975, including a greenshoe for C$5,004,975.
The company sold 18,199,955 units, including 9,099,955 for the greenshoe.
Each unit consists 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.
The deal priced on April 4 as a C$5.005 million offering of 9.1 million units.
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$10,009,975
|
| Units: | 18,199,955 (includes greenshoe for 9,099,955)
|
| 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
|
| Settlement date: | April 23
|
| Stock symbol: | TSX Venture: LGO
|
| Stock price: | C$0.64 at close April 3
|
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