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Largo Resources Announces Filing of Preliminary Short Form Prospectus for Secondary Offering of Common Shares
Largo Resources Announces Filing of Preliminary Short Form Prospectus for Secondary Offeri...
About this update from Largo Inc.
[{"type":"text","content":"\n\n\n\nLargo Resources Announces Filing of Preliminary Short Form Prospectus for Secondary Offering of Common Shares\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n\n\n\n\n\n\n\nCanada NewsWire\nTORONTO, June 22, 2018\n\n\n\n/NOT INTENDED FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED STATES/\n\n\n\nTORONTO, 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.\n\nThe 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. \n\n\"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. \n\nThe 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...