Largo Resources Announces Special Meeting of Shareholders to Propose a Share Consolidation Required for a Potential Listing on a Major U.S. Stock Exchange
Largo Resources Announces Special Meeting of Shareholders to Propose a
Share Consolidation Required for a Potential Listing on a Major U.S. Stock
Exchange
TORONTO--(BUSINESS WIRE)--January 14, 2021--Largo Resources Ltd. ("Largo" or the
"Company") (TSX: LGO) (OTCQX: LGORF) announces that it will hold a Special Meeting of
Shareholders (the “Special Meeting”) on Monday, March 1, 2021. The Company has set the
Record Date for the Special Meeting on January 25, 2021.
The purpose of the Special Meeting is to seek authorization from the Company’s shareholders to
enable the Board of Directors (the “Board”) to consider a consolidation of the Company's issued
and outstanding common shares (“Common Shares”) at a ratio of up to one post-consolidation
share for every ten pre-consolidation shares. Concurrent with the Special Meeting and related to
the proposed share consolidation, the Company’s Board is also considering a potential listing of
the Company’s shares in the United States (“U.S.”) with the view of increasing access to U.S.
capital markets and enhancing overall shareholder value—particularly as the Company continues
to strategically develop its recently launched U.S.-based Largo Clean Energy division into an
industry-leading, vertically integrated vanadium redox flow battery business.
Any authority of the Board to consolidate the shares is conditional upon the prior approval of the
Company's shareholders and the Toronto Stock Exchange (the "TSX"). Additional information,
including the time and instructions for virtually accessing and voting at the Special Meeting will
be provided at a later date. Further, a Management Information Circular for the upcoming
Special Meeting will be mailed to shareholders and filed by the Company on SEDAR.
About Largo Resources
Largo Resources is a leading, vertically integrated provider of cleantech solutions through its
high-quality vanadium products. Largo can service multiple vanadium market applications
through the supply of its unrivaled VPURE™ and VPURE+™ products, which are sourced from
one of the world’s highest-grade vanadium deposits at the Company’s Maracás Menchen Mine
located in Brazil. Largo is also focused on the advancement of renewable energy storage
solutions through Largo Clean Energy and its world-class VCHARGE± vanadium redox flow
battery systems. The Company's common shares are listed on the Toronto Stock Exchange under
the symbol "LGO".
For more information on Largo and VPURE™, please visit www.largoresources.com and
www.largoVPURE.com.
For additional information on Largo Clean Energy, please visit www.largocleanenergy.com.
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Neither the Toronto Stock Exchange (nor its regulatory service provider) accepts responsibility
for the adequacy or accuracy of this press release.
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 application Canadian
securities legislation ("forward-looking statements"). Forward‐looking information in this press
release includes, but is not limited to, the approval of the share consolidation and the ultimate
consolidation ratio selected, the Company’s intention and ability to list on a United States stock
exchange, and the anticipated benefits of completing a share consolidation and United States
stock exchange listing. 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 Largo’s annual information form and in its annual and interim MD&As filed
to its profile on www.SEDAR.com. 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.
Contacts
Alex Guthrie
Senior Manager, External Relations
Tel: +1 416-861-9797