By Devika Patel
Knoxville, Tenn., June 17 - Largo Resources Ltd. announced it has negotiated a C$1.5 million non-brokered private placement of units.
The company will sell 15 million units at C$0.10 each. The units consist of one common share and one half-share warrant with each whole warrant exercisable at C$0.15 for 18 months.
Settlement is expected on June 30.
Proceeds will be used for development of key projects and for working capital.
Largo is a Toronto-based resource development and exploration company.
| Issuer: | Largo Resources Ltd.
|
| Issue: | Units of one common share and one half-share warrant
|
| Amount: | C$1.5 million
|
| Units: | 15 million
|
| Price: | C$0.10
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | 18 months
|
| Warrant strike price: | C$0.15
|
| Agent: | Non-brokered
|
| Pricing date: | June 17
|
| Settlement date: | June 30
|
| Stock symbol: | TSX Venture: LGO
|
| Stock price: | C$0.105 at close June 16
|
| Market capitalization: | C$19.4 million
|
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