Largo Resources Announces C$7,000,000 Private Placement

 Largo Resources Ltd. (TSXV:LGO) announced a C$7,000,000 non-brokered private placement consisting of up to 30,434,783 common shares, at a price of C$0.23 per common share.

As quoted in the press release:

The Company anticipates that approximately C$1,393,000 of the Offering, or up to 6,056,522 common shares, will be purchased by funds managed by Arias Resource Capital Management LP (the “ARC Funds”) and approximately C$607,000 of the Offering, or an aggregate of 2,639,130 common shares, will be purchased by Mackenzie Investments (“Mackenzie”). Largo anticipates that the remaining C$5 million of the Offering will be purchased by existing shareholders of the Company.

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