Largo Announces Trading of Largo Physical Vanadium on the TSX Venture Exchange under the Symbol “V AND”
Largo Announces Trading of Largo Physical
Vanadium on the TSX Venture Exchange
under the Symbol “V AND”
TORONTO--(BUSINESS WIRE)--September 27, 2022--Largo Inc. ("Largo" or the "Company")
(TSX: LGO) (NASDAQ: LGO) is pleased to announce that Largo Physical Vanadium Corp.
(“LPV”) shares have commenced trading today on the TSX Venture Exchange (the “TSXV”)
under the ticker symbol "VAND".
On September 15, 2022, LPV completed its qualifying transaction pursuant to the policies of the
TSXV (the “Transaction”). LPV met all the post-closing conditions required in respect of the
Transaction and on September 23, 2022, the TSXV granted final approval of the Transaction,
allowing for the listing of LPV’s common shares.
Paulo Misk, President and Chief Executive Officer of Largo commented: “The listing of LPV
shares allows investors direct exposure to vanadium. With this enhanced visibility on the TSXV,
LPV will do its part to raise the profile of vanadium – a key green transition metal central to
clean energy storage and greener steel.” He continued: “LPV’s business model could enable the
reduction of vanadium commodity costs that typically constitute a significant proportion of the
total cost of vanadium redox flow batteries (“VRFB’s”), which could in turn further enhance
their adoption.
Alberto Arias Chairman of the Board of Directors of Largo commented: “We believe that LPV’s
business model could be an important innovation in the vanadium and long duration energy
storage industries. One of the biggest challenges for the commercialization of VRFB’s has been
the high cost of vanadium and periods of price volatility. LPV potentially solves this problem by
segregating and maintaining ownership of vanadium used in the VRFBs, such that customers are
not affected by vanadium price volatility.”
LPV aims to provide a secure, convenient and exchange-traded investment alternative for
investors interested in having direct exposure to physical vanadium, which is an important metal
in key industries such as steel, aerospace and long duration energy storage. Vanadium doesn’t
degrade, is fully recyclable when used as electrolyte in VRFB’s and has carbon reducing
attributes when used in steel alloying applications. LPV’s strategy is not only to achieve
appreciation through the acquisition of vanadium, but to own and actively supply vanadium to
end users of VRFB’s, thereby advancing its adoption in long duration energy storage, especially
those associated with renewable energy deployments. This strategy is integral to LPV’s business
plan, as it defrays an important portion of the costs associated with using vanadium in VRFB’s.
For more information on LPV, please visit www.lpvanadium.com.
About Largo
Largo has a long and successful history as one of the world’s preferred vanadium companies
through the supply of its VPURETM and VPURE+TM products, which are sourced from one of
the world's highest-grade vanadium deposits at the Company's Maracás Menchen Mine in Brazil.
Aiming to enhance value creation at Largo, the Company is in the process of implementing a
titanium dioxide pigment plant using feedstock sourced from its existing operations in addition
to advancing its U.S.-based clean energy division with its VCHARGE vanadium batteries.
Largo’s VCHARGE vanadium batteries contain a variety of innovations, enabling an efficient,
safe and ESG-aligned long duration solution that is fully recyclable at the end of its 25+ year
lifespan. Producing some of the world’s highest quality vanadium, Largo’s strategic business
plan is based on two pillars: 1.) vanadium production from its operations in Brazil and 2.) energy
storage business in the U.S. to support a low carbon future through its clean energy division.
Largo’s common shares trade on the Nasdaq Stock Market and on the Toronto Stock Exchange
under the symbol "LGO". For more information, please visit www.largoinc.com.
Cautionary Statement on Forward-looking Information:
This press release contains forward-looking information under applicable securities legislation
(“forward-looking information”). Forward-looking information can be identified by the use of
forward-looking terminology such as "plans", "expects" or "does not expect", "is expected",
"budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate",
or "believes", or variations of such words and phrases or statements that certain actions, events
or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". All
information contained in this news release, other than statements of current and historical fact,
is forward looking information. Forward-looking statements contained in this press release
include, but are not limited to, statements regarding the anticipated trading day of LPV shares
on the TSXV, the occurrence and terms of further purchases of vanadium on behalf of LPV, the
services to be provided to LPV under the advisory services, safekeeping, supply and technical
advisory agreement, LPV’s strategy and business plants, the VRFB market and the value of and
uses for vanadium.
Forward-looking information is subject to known and unknown risks, uncertainties and other
factors that may cause the actual results, level of activity, performance or achievements to be
materially different from those expressed or implied by such forward-looking information,
including but not limited to risks relating to: our ability to build, finance and operate our VRFB
business, that we will be able to protect and develop our technology and maintain our
intellectual property, that we will be able to market, sell and deliver our VRFB products on
specification and at a competitive price; that we will be able to secure the required production
resources to build our VCHARGE batteries, that VRFB technology will generally be adopted in
the market and that we will be able to successfully negotiate a mutually beneficial definitive
agreement or other relationship with Ansaldo Green Tech as well those risks described in the
annual information form of Largo and in its public documents filed on www.sedar.com and
www.sec.gov from time to time. Forward-looking information are based on the opinions and
estimates of management as of the date such statements are made. Although management of
Largo has attempted to identify important factors that could cause actual results to differ
materially from those contained in forward-looking information, there may be other factors that
cause results not to be as anticipated, estimated or intended. There can be no assurance that
such statements will prove to be accurate, as actual results and future events could differ
materially from those anticipated in such statements. Accordingly, readers should not place
undue reliance on Forward-looking information. Largo does not undertake to update any
forward-looking information, except in accordance with applicable securities laws. Readers
should also review the risks and uncertainties sections of Largo’s annual and interim MD&As
which also apply.
Trademarks are owned by Largo Inc.
Contacts
Investor Relations
Alex Guthrie
Senior Manager, External Relations
+1.416.861.9778
LPV Contact
Paul Vollant
President & Chief Executive Officer
+41.796.630.895