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Largo Resources To Permit Holders of Warrants to Exercise on a Cashless Exercise Basis
Largo Resources To Permit Holders of Warrants to Exercise on a Cashless Exercise Basis ...
About this update from Largo Inc.
[{"type":"text","content":"\n\n\n\nLargo Resources To Permit Holders of Warrants to Exercise on a Cashless Exercise Basis\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.prngen2{\nBORDER-BOTTOM:black 0pt; TEXT-ALIGN: LEFT; BORDER-LEFT:black 0pt; PADDING-LEFT:0.50em; PADDING-RIGHT:0.50em; VERTICAL-ALIGN: TOP; BORDER-TOP:black 0pt; BORDER-RIGHT:black 0pt\n}\n.prnsbt0{\nBORDER-TOP:0pt\n}\n.prnsbr0{\nBORDER-RIGHT:0pt\n}\n.prnbcc{\nBORDER-COLLAPSE: COLLAPSE\n}\n.prnsbl0{\nBORDER-LEFT:0pt\n}\n.prnsbb0{\nBORDER-BOTTOM:0pt\n}\n\n\n\n\n\n\n\nCanada NewsWire\nTORONTO, Nov. 15, 2018\n\n\n\nTORONTO, Nov. 15, 2018 /CNW/ - Largo Resources Ltd. (\"Largo\" or the \"Company\") (TSX: LGO) (OTCQX: LGORF) is pleased to announce that effective December 3, 2018 the Company will permit, without any further action on the part of holders (\"Warrantholders\"), all outstanding unlisted warrants of the Company (the \"Warrants\") to be exercisable on a cashless exercise basis at the option of the Warrantholder. No other terms of the Warrants are being amended.  \nMr. Mark Smith, Chief Executive Officer of Largo, stated \"If our Warrantholders take advantage of this cashless exercise tool,it will minimize dilution to our shareholders upon exercise. As an example, assuming all of the existing Warrants are exercised on this basis at a price of $4.38 (being the approximate 5-day VWAP as of close today), approximately 16.3 million fewer common shares will be issued upon exercise.\"\nThe outstanding Warrants which will now be exercisable on a cashless exercise basis are those issued in connection with the following financings:\nJanuary 29, 2016 and March 2, 2016 (unit private placement) exercisable at $0.29 per common share and expiring 5 years from issuance September 7, 2016, September 12, 2016 and October 4, 2016 (unit private placement) exercisable at $0.65 per common share and expiring 3 years from issuance January 2, 2017 and January 24, 2017 (unit private placement) exercisable at $0.65 per common share and expiring 3 years from issuance April 12, 2017, (part of short term shareholder loan) exercisable at $0.50 per common shar...