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Largo Resources Announces Closing of $10M Private Placement

Largo Resources Ltd. (LGO.V) has closed its previously announced $10 million private placement of common shares through the issuance of 45,454,545 common shares at a price of $0.22 per common share.

Largo intends to use the net proceeds of the offering to acquire the remaining 10% minority interest in Companhia de Maracas, which indirectly holds the Maracas project located in Brazil, that the company does not already own, and for general corporate purposes.

LGO shares rose half-a-cent to $0.215.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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