Largo Resources Announces Special Meeting of Shareholders to Propose a Share Consolidation Required for a Potential Listing on a Major U.S. Stock Exchange
Thursday, January 14, 2021, 7:30 AM ET
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.
