March 05, 2010
Largo Resources Ltd. (TSXV: LGO) completed a private placement of 36,363,637 special warrants at a price of $0.22 per special warrant for aggregate gross proceeds of approximately $8,000,000. Each special warrant entitles the holder thereof to receive one unit of Largo on the exercise or deemed exercise of the special warrant, each unit being comprised of one common share of Largo and one-half of one common share purchase warrant. Each whole common share purchase warrant will entitle the holder thereof to purchase one common share of Largo at a price of $0.35 until March 5, 2011.
Largo Resources Ltd. is a mineral exploration and development company focused on the development of the Maracas vanadium project in Bahia, Brazil. Largo also holds interests in other exploration areas in Canada and Brazil.
A syndicate of agents led by Byron Securities Limited and including Clarus Securities Inc. acted as agents in respect of the issuance and sale of a portion of the special warrants issued pursuant to the private placement.
Wildeboer Dellelce LLP acted for the agents in connection with the offering with a team that included James Brown, Irene Kim and Nicholas Dobbek (corporate/securities) and Andrea Shreeram (tax).