Largo announces new term loan
2017-04-21 14:42:33 【Print】
BEIJING (Asian Metal) 21 Apr 17 - Largo Resources Ltd
Pursuant to the terms of the Loan, the Company also issued 400,000 common share purchase warrants (the "Warrants") to the lenders with each such Warrant being exercisable to acquire one common share at a price of $0 . 50 until December 31, 2020.
This short term injection of capital at the parent level and the increasingly positive cash flow at the operating subsidiary level provides the Company with the flexibility to focus on completing their on-going capital restructuring.
Largo Resources Ltd . is a growing strategic mineral company focused on the production of vanadium pentoxide at its Vanadio de Maracás Menchen Mine.
. ("Largo" or the "Company") announced the entering into of a US$2 million six-month term loan at the Company level (the "Loan") . The Loan will help the parent company address its short term cash requirements while the Company continues to focus on restructuring its current capital structure.
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