Proceeds to be used for Maracas Vanadium Project, corporate purposes
By Devika Patel
Knoxville, Tenn., Dec. 13 - Largo Resources Ltd. said it settled a C$17 million private placement of stock.
The company sold 84,999,150 common shares. The shares were sold at C$0.20 apiece, which is a 4.76% discount to the Dec. 12 closing share price of C$0.21.
Arias Resource Capital Management LP invested C$15 million.
Proceeds will be used for the Maracas Vanadium Project and general corporate purposes.
Largo is a Toronto-based resource development and exploration company.
| Issuer: | Largo Resources Ltd.
|
| Issue: | Common shares
|
| Amount: | C$16,999,830
|
| Shares: | 84,999,150
|
| Price: | C$0.20
|
| Warrants: | No
|
| Agent: | Non-brokered
|
| Investor: | Arias Resource Capital Management LP (for C$15 million)
|
| Settlement date: | Dec. 13
|
| Stock symbol: | TSX Venture: LGO
|
| Stock price: | C$0.21 at close Dec. 12
|
| Market capitalization: | C$183.95 million
|
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