Le Lézard
Classified in: Mining industry
Subject: OFR

Largo Resources Announces Filing of Preliminary Short Form Prospectus for Secondary Offering of Common Shares


TORONTO, June 22, 2018 /CNW/ - Largo Resources Ltd. ("Largo" or the "Company") (TSX: LGO) (OTCQX: LGORF) reports that it filed a preliminary short form prospectus with the securities regulatory authorities in the provinces of British Columbia, Alberta, Manitoba and Ontario in connection with a proposed marketed secondary offering of 70,977,885 common shares (the "Offering") by the Selling Shareholders listed below. The Offering will be priced in the context of the market. The Company will not receive any of the proceeds of the Offering. All proceeds (net of underwriting fees) will be paid to the Selling Shareholders.

The Offering is being made through a syndicate of underwriters co-lead by Credit Suisse Securities (Canada), Inc. and Morgan Stanley Canada Limited, with CIBC Capital Markets acting as joint bookrunner, and including Cormark Securities Inc., H.C. Wainwright & Co., LLC and Mackie Research Capital Corp. as co-managers. H.C. Wainwright & Co., LLC is not registered as a dealer in any Canadian jurisdiction and, accordingly, will not, directly or indirectly, solicit offers to purchase or sell the common shares in Canada.

"This Offering will benefit Largo as it will provide for the orderly placement of existing common shares into the market allowing us to make a significant number of shares available to new investors without any additional dilution" said Mark Smith, Chief Executive Officer of Largo.

The common shares being offered are currently held by Arias Resource Capital Fund L.P., Arias Resource Capital Fund II L.P., Arias Resource Capital Fund II (Mexico) L.P., the Cranley Trust, Cranley Investments Holdings LLC, and Mark Smith (collectively, the "Selling Shareholders").

The common shares subject to the Offering have not been and will not be registered under the U.S. Securities Act of 1933, as amended, (the "Securities Act") and may not be offered or sold in the United States absent registration under or an applicable exemption from the registration requirements of the Securities Act. This press release does not constitute an offer to sell or the solicitation of an offer to buy the shares herein described, and shall not constitute an offer, solicitation or sale in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of that jurisdiction.

About Largo Resources

Largo is a Toronto-based strategic mineral company focused on the production of vanadium flake, high purity vanadium flake and high purity vanadium powder at the Maracás Menchen Mine located in Bahia State, Brazil. The Company's common shares are principally listed on the Toronto Stock Exchange under the symbol "LGO". For more information on Largo, please visit our website at www.largoresources.com.

SOURCE Largo Resources Ltd.

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News published on 22 june 2018 at 17:18 and distributed by: