Largo Closes Equity Financing

Largo Resources Ltd. (TSXV:LGO) announced that it has closed its previously announced equity financing.

The press release is quoted as saying:

The remaining Units were sold by the Company on a non-brokered basis. The Offering raised gross proceeds to the Company of approximately $4,997,500, including the full exercise of the Agents’ over-allotment option for 1,455,882 Units. Each Unit is comprised of one common share of the Company (each, a “Common Share”) and one common share purchase warrant (a “Warrant”). Each Warrant is exercisable for one Common Share at a price of $0.25 any time up until 5:00pm (Toronto time) on September 16, 2011. The net proceeds raised under the Offering will be used for the advancement of the Company’s Maracás Project in Brazil by advancing the licensing process and furthering construction activities and for other corporate purposes.

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