Largo Resources announces closing of secondary offering

24 July 2018

On July 24, 2018, Largo Resources Ltd. ("Largo" or the "Company") (TSX: LGO) (OTCQX: LGORF) announced the closing of the previously announced underwritten secondary offering of 60,000,000 common shares and an additional 9,000,000 common shares representing the exercise in full of the over-allotment option granted to the underwriters.

Credit Suisse Securities (Canada), Inc. and Morgan Stanley Canada Limited co-led the offering, with CIBC Capital Markets acting as joint bookrunner, and Cormark Securities Inc., H.C. Wainwright & Co., LLC and Mackie Research Capital Corp. acting as co-managers.

The selling shareholders under the offering consisted of 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. The selling shareholders received all of the net proceeds from the offering.

Largo is a Toronto-based strategic mineral company focused on the production of vanadium flake, high purity vanadium flake and high purity vanadium powder at the Maracás Menchen Mine located in Bahia State, Brazil.

Gowling WLG advised Largo on this transaction with a team that included Ian Mitchell, Marek Lorenc and Shawn Blundell.

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