An anonymous director reports
LARGO ANNOUNCES RESULTS OF EXCESS CASH FLOW OFFER
Largo Resources Ltd. has repurchased approximately $6.7-million (U.S.) in principal amount of its 9.25 per cent senior secured notes due 2021. The notes were repurchased at a purchase price of 103 per cent of the principal amount thereof plus accrued and unpaid interest to, but not including, the purchase date, pursuant to the terms of the excess cash flow offer that Largo was obligated to make to holders of notes in accordance with the indenture governing the notes. The excess cash flow offer was made pursuant to an offer to purchase dated May 3, 2019, which set forth the terms of the excess cash flow offer. In aggregate, Largo paid approximately $6.9-million (U.S.) in connection with the repurchase under the excess cash flow offer (including principal, premium and accrued but unpaid interest). Following this repurchase, the principal amount remaining outstanding under the notes is approximately $22.4-million (U.S.).
About Largo Resources Ltd.
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 Maracas Menchen mine located in Bahia state, Brazil.
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