By Sheri Kasprzak
New York, March 28 - Largo Resources Ltd. said it has settled a C$2 million private placement of flow-through and non flow-through units.
The company sold 13.1 million non flow-through units at C$0.10 each and 6.9 million flow-through units at C$0.10 each.
The non flow-through units consist of one share and one warrant with each warrant exercisable at C$0.13 through March 28, 2008.
The flow-through units consist of one share and one warrant, also with each warrant exercisable at C$0.13 through March 28, 2008.
Proceeds will be used for development purposes and for working capital.
Largo, based in Toronto, is a mineral exploration company.
| Issuer: | Largo Resources Ltd.
|
| Issue: | Units of one share or flow-through share and one warrant
|
| Amount: | C$2 million
|
| Placement agent: | Non-brokered
|
| Settlement date: | March 28
|
| Stock symbol: | TSX Venture: LGO
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| Stock price: | C$0.17 at close March 28
|
|
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| Non flow-through units
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| Units: | 13.1 million
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| Price: | C$0.10
|
| Warrants: | One warrant per unit
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| Warrant expiration: | March 28, 2008
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| Warrant strike price: | C$0.13
|
|
|
| Flow-through units
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| Units: | 6.9 million
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| Price: | C$0.10
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| Warrants: | One warrant per unit
|
| Warrant expiration: | March 28, 2008
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| Warrant strike price: | C$0.13
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