Largo Resources Ltd
Yukon Territory - Brazil - Ecuador: Gold-Copper, Vanadium PGE , tungsten/molybdenum
Message: RE Previously Announced Private Placement Financing and Closes Shares for Debt
| February 10, 2009 |
| Largo Resources Amends Information in Relation to Previously Announced Private Placement Financing and Closes Shares for Debt Settlement |
| TORONTO, ONTARIO--(Marketwire - Feb. 10, 2009) - Largo Resources Ltd. ("Largo" or the Company") (TSX VENTURE:LGO) is pleased to announce that it has closed its previously announced debt settlement by issuing 4,061,956 common shares in full settlement of $243,717 in outstanding net debt. These shares are subject to a statutory hold period that expires on June 11, 2009. In addition, Largo would like to amend the information disclosed on February 5, 2009 in relation to its previously announced non-brokered private placement financing that closed on February 5, 2009. Largo has issued 41,152,827 common shares (not 39,319,493) at $0.06 per common share for total gross proceeds to the Company of $2,469,169.62 (not $2,359,170,74). The closing remains subject to receipt of applicable regulatory approvals including final approval of the TSX Venture Exchange. Following the completion of this debt settlement and the private placement, Largo will have 194,114,458 common shares issued and outstanding. About Largo Largo Resources is a Canadian natural resource development and exploration company with two advanced stage projects: the Maracas Vanadium-PGM deposit in Brazil and the Northern Dancer Tungsten-Molybdenum deposit in the Yukon. Largo also has a large (60,000 hectare) land position and prospective gold exploration properties in Ecuador. The company is listed on the TSX Venture Exchange under the symbol LGO. For more information please refer to Largo's website: www.largoresources.com. |
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