Proceeds are expected to be used for general corporate purposes
By Devika Patel
Knoxville, Tenn., March 14 - Largo Resources Ltd. said it settled a C$6.38 million private placement of stock. The deal priced for C$7 million on March 4.
The company sold 27,747,823 common shares at C$0.23 apiece, which is a 4.55% premium to the March 1 closing share price of C$0.22.
Funds managed by Arias Resource Capital Management LP and Mackenzie Investments participated.
Proceeds will be used for general corporate purposes.
Largo is a Toronto-based resource development and exploration company.
| Issuer: | Largo Resources Ltd.
|
| Issue: | Common shares
|
| Amount: | C$6,381,999
|
| Shares: | 27,747,823
|
| Price: | C$0.23
|
| Warrants: | No
|
| Agent: | Non-brokered
|
| Investors: | Arias Resource Capital Management LP and Mackenzie Investments
|
| Pricing date: | March 4
|
| Settlement date: | March 14
|
| Stock symbol: | TSX Venture: LGO
|
| Stock price: | C$0.22 at close March 1
|
| Market capitalization: | C$195.66 million
|
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