Largo Resources Announces Name Change to Largo Inc.; Reflects Strategic Focus of Becoming a Leading Vanadium Focused Energy Storage Company
Largo Resources Announces Name Change to Largo Inc.; Reflects
Strategic Focus of Becoming a Leading Vanadium Focused Energy
Storage Company
TORONTO--(BUSINESS WIRE)--November 8, 2021--Largo Inc. ("Largo" or the "Company")
(TSX: LGO) (NASDAQ: LGO) is pleased to announce that it has completed a rebranding
exercise to reflect the growth and diversification of its business. As part of this initiative, Largo
has effective as of today, amended its articles in accordance with the Business Corporations Act
(Ontario) to change its name from Largo Resources Ltd. to Largo Inc., updated its corporate
logos and refreshed its corporate website to integrate its Largo Clean Energy business and
become more than just a mining company. Largo remains focused on delivering high-quality,
sustainable and innovative vanadium focused energy storage products along side its existing high
quality vanadium products.
The Company's common shares are expected to begin trading on the Toronto Stock Exchange
and the Nasdaq Stock Market under the new name at market open on or around November 10,
2021.
Ian Robertson, Co-Chair of Largo stated: “Our announcement today represents much more than
a simple name change, its an important affirmation of our vision to be recognized as an
organization which is contributing to the planet’s transition to renewable energy and a low-
carbon future. Our new brand and updated positioning are perfectly aligned with our mission to
become a leading vanadium focused energy storage company by satisfying 10% of the world’s
long duration energy storage needs.”
Paulo Misk, President and CEO of Largo, stated: “We are committed to creating value through
our unique vertically integrated business model, responsible business practices, and the
dedication of our talented team. We believe that leveraging the financial and technical strength
of our world-class vanadium operations with our superior vanadium redox flow battery
technology will present a higher-value market opportunity for our company and create a unique
competitive advantage for Largo in the rapidly-growing long duration energy storage market.”
Largo’s new visual identity is comprised of components that reflect the Company’s core values
as well as its updated vision and mission.
We are committed to superior quality and innovation: We’re constantly striving for the
highest quality solutions and perpetually innovating to achieve a sustainable future.
We promote integrity throughout our business: We define integrity as respecting people
and communities, including prioritizing their safety. We are transparent, sincere and
honest.
We create value for all stakeholders: We balance financial value for shareholders while
not losing sight of social good and sustainability for all our stakeholders, earning their
respect and trust.
We care about people: We’re global citizens focused on sustainability and ensuring that
the untapped opportunities in the clean energy industry benefit all people around the
world.
Name Change Details
The Company’s shareholders passed a special resolution authorizing an amendment to the
Company's articles to effect the change to the Company’s name at the annual and special
meeting of the Company's shareholders held on June 17, 2021. No action will be required by
existing shareholders with respect to the Company’s name change. Issued share certificates
representing common shares of the Company will not be affected by the change of name and will
not need to be exchanged. The Company encourages any shareholder concerns in this regard to
be directed to their broker or agent.
Updated Q3 2021 Webcast and Conference Call Information
The Company will host a webcast and conference call on Thursday, November 11th at 10:00
a.m. ET, to discuss its third quarter 2021 results and progress.
Webcast and Conference Call Details:
Date: Thursda y, November 11, 2021
Time: 10:00 a.m. ET
Webcast Registration
Link: https://produceredition.webcasts.com/starthere.jsp?ei=1510027&tp_key=8437e02a6
Dial-in Number: Local / International: +1 (647) 792-1241
North American Toll Free: +1 (866) 269-4261
Conference ID: 6358846
Replay Number: Local / International: + 1 (647) 436-0148
North American Toll Free: +1 (888) 203-1112
Replay Passcode: 6358846
A playback recording will be available on the Company's website for a period of 60-days
following the conference call.
About Largo
Largo is a Canadian-based company that has historically been solely committed to the
production and supply of high-quality vanadium products. The Company believes that the
development and sale of vanadium-based utility scale electrical energy storage systems to
support the planet's on-going transition to renewable energy presents both an attractive economic
opportunity for the use of the Company's vanadium products and an opportunity to enhance the
Company's sustainability. The Company is confident that using 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, in its VCHARGE vanadium redox flow battery
technology results in a competitive and practical long duration energy storage product.
Consequently, the Company is undergoing a strategic transformation through the creation of
energy storage business operations to be vertically integrated with its highly efficient vanadium
production mining operations, to create a unique competitive advantage in the rapidly growing
long duration energy storage market.
Largo’s common shares trade on the Nasdaq Stock Market and on the Toronto Stock Exchange
under the symbol "LGO". For more information on the Company, please visit
www.largoinc.com.
Forward-looking Information:
This press release contains forward-looking information under Canadian securities legislation,
some of which may be considered "financial outlook" for the purposes of applicable Canadian
securities legislation ("forward-looking statements").. Forward‐looking information in this press
release includes, but is not limited to, statements with respect to our ability to build, finance and
operate a VRFB business, our ability to protect and develop our technology, our ability to
maintain our IP, our ability to market and sell our VCHARGE± battery system on specification
and at a competitive price, our ability to secure the required production resources to build our
VCHARGE± battery system, and the adoption of VFRB technology generally in the market.
Forward‐looking information in this press release also includes, but is not limited to, statements
with respect to our continued ability to produce, sell and deliver low-cost, high-quality vanadium
products on a profitable basis, the ability to efficiently vertically integrate our business, the
ability to attract and retain key personnel and the competitive advantage which will be provided
by the vertical integration of the business. Forward-looking statements 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 are subject to known
and unknown risks, uncertainties and other factors that may cause the actual results, level of
activity, performance or achievements of Largo or Largo Clean Energy to be materially different
from those expressed or implied by such forward-looking statements, including but not limited to
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 statements 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 statements, 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 statements. Largo does not undertake to update any
forward-looking statements, 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
For further information, please contact:
Investor Relations
Alex Guthrie
Senior Manager, External Relations
+1.416.861.9778